Quedancor extends credit to Zambo farmers

The Quedan and Rural Credit Guarantee Corp. (Quedancor), the government’s credit guarantee company, added last Oct. 19-21 several loan checks to agricultural workers engaged in seaweed production and talaba culture in the Zamboanga region.

In Zamboanga Del Norte, P6.03 million worth of credit was released to 375 seaweed farmers from Dipolog and Sindangan municipalities on Oct. 19.

On the following day, the Kabasalan town of Zamboanga Sibugay province was the venue of another awarding activity this time for Talaba growers where P1.2 million worth of loans was distributed to 107 beneficiaries. The town was also chosen as the site of a new landmark for talaba culture where a large Quedancor corporate billboard for talaba was unveiled.

In Zamboanga City, P2.7 million worth of cash loans, were released to 199 seaweed cultivators. The event also involved the turning over of important materials and equipment in seaweed farming, such as rafts and planting implements, to the seaweed credit program beneficiaries from this area.

All in all, nearly P10 million worth of production loans was released and distributed to 785 borrowers.

According to Quedancor president and CEO Nelson C. Buenaflor, the infusion of credit resources in the municipalities of Dipolog, Sindangan, Kabasalan and Zamboanga City, respectively, is an essential move to accelerate production of among the country’s chief and lucrative aquaculture resources, which are both gaining positive headway in the local international markets.

He said Quedancor continues to intensify its credit provision for aquaculture activities by allocating bigger funding for seaweed and talaba production. It likewise encourages strong participation of the local government units, NGOs, partner banks and other lending institutions in the country to infuse their resources to seaweed and talaba farming communities in the region.