Agri-Agra Reform Credit Act of 2009.
Country
Type of law
Legislation
Abstract
This Act establishes an agriculture, fisheries and agrarian reform credit, insurance and financing system in order to improve the productivity of the agriculture and fisheries sectors, particularly the farmers, fisherfolk and agrarian reform beneficiaries, settlers, agricultural lessees, amortizing owners, farm- and fish-workers, owner-cultivators, farmers, agricultural and fisheries cooperatives, organizations and associations, through government and private banking institutions. Agriculture and agrarian reform credit shall consist of loans to finance the following activities not limited to agricultural production, but also to: promotion of agribusiness and exports, acquisition of work animals, farm and fishery equipment and machinery, seeds, fertilizers, poultry, livestock, feeds and other similar items, acquisition of land, authorized under the Agrarian Reform Code of the Philippines and its amendments; construction, acquisition and repair of facilities for production, processing, storage and marketing and such other facilities in support of agriculture and fisheries; and efficient and effective merchandising of agricultural and fishery commodities stored and or processed by the facilities above cited in domestic and foreign commerce.
Attached files
Web site
Long title of text
An Act providing for an Agriculture and Agrarian Reform Credit and Financing System through Banking Institutions.
Date of text
Entry into force notes
This Act enters into force 15 days after its publication in the Official Gazette.
Notes
This Act repeals the following: Presidential Decree No. 717, the second paragraph under Section 8 of Republic Act No. 7900, known as the High-Value Crops Development Act of 1995, and Section 9 of Republic Act No. 7721, known as Liberalizing the Entry and Scope of Operations of Foreign Banks in the Philippines.
Repealed
Yes
Source language
English
Legislation Amendment
No