Philippines bank to aid poultry farmers with loans

BPI executive vice president and corporate banking group head Alfonso Salcedo Jr. has said that he was optimistic about the potential of agribusiness, especially in the coming Asean integration by 2015, where there will be increased demand in the global market.

The program has been directed at aiding livestock and poultry producers in Cagayan de Oro, Bukidnon, General Santos City and Davao City.

The Philippines is free from bird flu which is decreasing stocks of chicken and duck in mainland Asia and poultry and livestock products are the second agricultural output of the country next to rice.

The bank is offering loans to commercial raisers with below six per cent interest for the floating rate and seven per cent for the fixed rate, with a five to six years grace period for commercial poultry raisers.

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