January 22, 2021 | 6:48 pm Font Size
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AMENDMENTS to the implementing rules and regulations (IRR) of Republic Act No. 10000 or the Agri-Agra Credit Act of 2009 have been completed, which will allow banks to lend to more types of farming communities and classify more loans as compliant with the law’s quotas.
In a statement Friday, Agriculture Secretary William D. Dar said the draft amendments to the IRR prepared by the Bangko Sentral ng Pilipinas (BSP), the Department of Agriculture (DA), and the Department of Agrarian Reform (DAR) have been signed.
Under the new IRR, the law extends the law’s coverage to households of the agrarian reform beneficiary and to agrarian reform communities.