CALAMBA CITY, Laguna, Dec. 21 (PIA) State-owned Development Bank of the Philippines (DBP) has signed an agreement with the Department of Agriculture (DA) for the distribution of cash subsidies to around 900,000 marginal farmers under the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that this newly-developed DA program utilizes financial technology through the use of an e-voucher system to ensure more efficient and transparent program implementation.
“Through the e-voucher system, beneficiaries can claim their cash assistance of P3000 each at any DBP-accredited payout center by presenting their government-issued ID and the unique reference code sent via text message by the implementing agencies,” Herbosa said.
State-owned Development Bank of the Philippines (DBP) signed an agreement with the Department of Agriculture (DA) for the distribution of cash subsidies to around 900,000 marginal farmers under the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program, a top official said.
In a statement on Monday, DBP President and Chief Executive Officer Emmanuel G. Herbosa said the DA program utilizes financial technology through the use of an e-voucher system to ensure more efficient and transparent program implementation.
“Through the e-voucher system, beneficiaries can claim their cash assistance of P3,000 each at any DBP-accredited payout center by presenting their government-issued ID and the unique reference code sent via text message by the implementing agencies,” Herbosa said.
DBP sustains loan portfolio growth philippinetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philippinetimes.com Daily Mail and Mail on Sunday newspapers.