Agriculture and Fisheries Financing Program (AFFP): Why a Second Look at Its Implementing Guidelines Is a Must

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The Agriculture and Fisheries Financing Program (AFFP) is a PHP 1 billion flexible credit facility that is intended for farmers and fisherfolk who are nonagrarian reform beneficiaries and are engaged in priority commodities identified by the Department of Agriculture in the 20 poorest provinces of the country. It aims to serve as an alternative to the rigid and stringent credit facilities provided by banks. It seeks to ensure the availability of financing for small farmers and fisherfolk and increase their access to loans from formal sources. This Policy Note provides a summary of the key findings and recommendations from an evaluation of the AFFP. The findings point to the need to review the program design and implementing guidelines of the AFFP as the government seems to be going back to an old approach that did not work in the past.