The Arroyo administration said it spent billions of pesos to make good its promise to make Mindanao super region the country’s agribusiness center.
Malacanang deputy spokesperson Ricardo Saludo said about P8.96 billion was spent from 2001 to 2009 to complete the construction and rehabilitation of 4,427.62 km. of Farm-to-Market Roads (FMRs) in Mindanao.
Saludo said the provision of loans extended to Mindanao farmers is also considerable amounting to a total of P4.77 billion released to 154,536 farmer-beneficiaries through the Land Bank and Agro-Industry Modernization Credit and Financing Program (AMCFP).
The loan provision intends to encourage and develop the capacity of farmers to invest more in agribusiness, he said.
But Saludo said the present administration did not only provide credit to farmers but also to other entrepreneurs.
He said about P4.2 billion worth of credit was released for Mindanao’s microfinance. The amount is seven times higher compared to the total amount released in 2004.
Also, about P51.68 billion was spent for roads and bridges from 2001 to 2009 in Mindanao. This comprises the construction and improvement of 6,557.47 km of roads and 37,734.23 linear meters (lms) of bridges, he said.
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