President Marcos has approved the release of about P12.7 billion to help 2.3 million farmers cope with the challenges confronting the agriculture sector.
Marcos, who is also the agriculture secretary, ordered the release of the funding on Sept. 28 for the Rice Farmers Financial Assistance program, Presidential Communications Secretary Cheloy Garafil said yesterday.
Each beneficiary will be given P5,000 in financial aid, which came from the excess tariff collection from rice importations last year, amounting to about P12.7 billion. Marcos has also approved the use of P700 million in excess tariff collections for the Palayamanan Plus, a conditional cash transfer under the household crop diversification program, Garafil said.
Garafil said some 78,000 beneficiaries are expected to receive the Palayamanan Plus conditional cash transfer of P10,000 each.
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