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ACPC MS 2003-03: Small farmer and fisherfolk borrowing up, further at 64% in 2002

This survey which continues to provide empirical information about farmers' and fisherfolk's demand for credit, pattern of borrowing incidence, and constraints to loan access and repayment, among others, is crucial to the development of policy measures for improving access to financing. The biennial survey conducted by ACPC confirms the reverse in borrowing trend observed years ago that the incidence of borrowing among small farmers and fisherfolk is still increasing. Compared to 47 percent in 1997-1998 and 60 percent in 1999-2000, the share of borrowers in the sector has already reached 64 percent as of the latest survey. More significantly, trends in borrowing from formal sources likewise went up to almost 40 percent during the two more recent periods covering 1999-2000 and 2001-2002, from 24 percent in 1997-98. Moreover, forty (40) percent of rural households are now able to source loans from formal financial institutions, compared to 24 percent in 19997-1998. This could be due to the proliferation of microfinance-oriented programs in recent years. Particularly gaining popularity as loan sources are rural banks and programs of local government units (LGUs).

Agricultural Credit Policy Council
Authors Keywords
ACPC; fisheries sector; microfinance; rural finance; guarantees; agricultural finance; Agro-Industry Modernization Credit and Financing Program (AMCFP);
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Published in 2003 and available in the ACPC Library or can be downloaded as full text Downloaded 945 times since November 25, 2011