Go Negosyo founder Joey Concepcion and heads of companies like Nestle Philippines and the LT Group met with President Bongbong Marcos Jr. to discuss the problems farmers face in obtaining credit and the latest updates on the Kapatid Angat Lahat (KALAP) program.
According to Concepcion, KALAP needs scale to support small farmers, whose lands cannot be collateralized due to agrarian reform law, and banks cannot lend to them.
President Marcos reportedly assured the group that the Land Bank of the Philippines and the Development Bank of the Philippines would expand their credit program coverages to support agriculture.
KALAP aims to provide farmers with access to capital, markets, and mentorship, according to Go Negosyo.
Other firms that attended the meeting with the President include Central Azucarera de Tarlac, Lionheart Farms, Metro Pacific Agro Ventures, Vitarich, and Bounty Group.