Orientation of MAFAR- Loan for Enhancement of Necessary Development Strategies (MAFAR-LENDS) beneficiaries in BARMM[February 16, 2021]
A total of Fifty-four (54) persons from the province of Lanao del sur and Maguindanao underwent a briefing-Orientation of MAFAR- Loan for Enhancement of Necessary Development Strategies (MAFAR-LENDS) beneficiaries in BARMM Tuesday, February 16, 2021, Held in Penafrancia Safe Haven, Cotabato City. The initiative was introduced last year 2020 under the Bangsamoro Appropriation Act for AMAD fund by Dr. Tong Pinguiaman, Chief of AMAD on behalf of MAFAR Minister Dr. Mohammad S. Yacob.
Three key officials from MAFAR also joined the orientation Engr. Ismail Guiamel, Datu Hamsur Zaid and Noraine S. Dumasil. The main objective of the program is to provide funding support and loan assistance for micro and small enterprise engaged in agriculture and fisheries production and other supply chain activities to ensure availability of food supply in the region. Under the MAFAR-Lends program, the AMAD offers uncollaterized loans of up to P100,000 payable in three years with zero percent (0) interest rate on loans. Loan proceeds shall be released one time in a lumpsum basis, digital based system in credit delivery through bank accounts. The beneficiaries will also engage in the evaluation and reviews of all agriculture and fisheries credit program.