Bond float offered to help farmers
A P1-BILLION bond float, dubbed Pangasinan ECL bond float, is being proposed to help farmers recover from their losses brought about by the 10/9 deluge.
Under the proposal, rural banks in Pangasinan should be able to provide 6-month loans to individual farmers.
Ed Coloma-Libatique, the proponent of the proposed bond, said it is intended to provide liquidity to the rural banking sector and enable them to fund mini agriculture-based rehabilitation projects in the province, create new capital for the farmers that will fund their personal farm recovery programs, and help fund new technology-based agricultural projects to improve harvest.
“Through this we are confident that the farmers who were adversely affected by typhoons Pepeng and Ondoy can come up with sufficient rice and vegetable harvest that can help them earn enough for their daily subsistence, pay their debts and more importantly, recover from the calamities’ ill effects,” Libatique said.
The proposed ECL Blond Float will be coursed through government financial institutions such as the Development Bank of the Philippines and Land Bank.
The issue manager will be the Kabalikat sa Kabuhayan Foundation, Incorporated.
Being eyed as lead underwriters for the bond are First Metro Investments Corporation, Penta Capital Investment Banking Corporation, SB Capital and Groskopf and Oragon.
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