Some 269 agrarian reform beneficiaries (ARBs) in Bago City are now debt-free.
This after the Department of Agrarian Reform (DAR) has released their Certificates of Condonation with Release of Mortgage (COCROMs) for a total condoned amount of over P49 million, covering a land area of 279.5604 hectares.
Agrarian Reform Secretary Conrado Estrella III led the ceremonial distribution of COCROMs at the Pontevedra Gymnasium in Isabela April 23.
He was joined by Bago City Mayor Mayette Javellana, Pontevedra Mayor Jose Maria Alonso, 4th District Board Member Paula Alonso, and 4th District Rep. Jeffrey Ferrer, among other officials.
The New Agrarian Emancipation Act frees farmers from financial burden by condoning their principal loans, including unpaid amortizations and interests, Estrella said in a city press release.
He assured that the government, especially the DAR, will continue to provide necessary support to the ARBs in the province.
The number of recipient ARBs in Bago City formed part of the 2,121 ARBS in the fourth, fifth, and sixth districts of the province with total condoned amount of about P439 million.
For 4th District alone, 340 ARBs received their COCROMs, with Bago City having the highest number of recipients.
The remaining 65 ARBS are from Pontevedra, and six from San Enrique, with a condoned amount worth P98 million and P1.5 million, respectively. ||
