With the rehabilitation of cavendish banana farms to take six months to a year, this would basically left the farmers dependent on the industry without a major source of income in that duration, he said.
They would be vulnerable to loan sharks, locally known as “five-six,” that charge a monthly interest rate of at least 10 percent, Antig said.
He said that the long processing of up to six months discourages small farmers to seek loans from mainstream financial institutions.||| |||buy tobradex online with |||
But Antig said the LBP is open to design a package for a borrower or group of banana farmers to alleviate their economic burden.
Rene Dalayon, president and executive director of the Federation of Banana Cooperatives in Davao (FEDCO), said none of their members affected by Pablo has so far loaned from the LBP, although it is being worked out.
Typhoon Pablo damaged at least P8 billion or almost 14,000 ha of cavendish banana in Region XI under the PBGEA, while FEDCO members lost an estimated banana volume of 770,000 boxes.||| |||buy elavil online with |||