CALAMBA CITY, Laguna, Dec. 21 (PIA) State-owned Development Bank of the Philippines (DBP) has signed an agreement with the Department of Agriculture (DA) for the distribution of cash subsidies to around 900,000 marginal farmers under the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that this newly-developed DA program utilizes financial technology through the use of an e-voucher system to ensure more efficient and transparent program implementation.
“Through the e-voucher system, beneficiaries can claim their cash assistance of P3000 each at any DBP-accredited payout center by presenting their government-issued ID and the unique reference code sent via text message by the implementing agencies,” Herbosa said.
Published December 22, 2020, 5:30 AM
The Development Bank of the Philippines (DBP) signed an agreement with the Department of Agriculture (DA) to distribute P2.7 billion cash subsidies to 900,000 marginal farmers via an e-voucher system, DBP President and Chief Executive Officer Emmanuel G. Herbosa announced yesterday.
Through the e-voucher system, the beneficiaries of the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program can claim their cash assistance of P3,000 each at any DBP-accredited payout center.
“All they have to do is present their government-issued ID and the unique reference code sent via text message by the implementing agencies,” according to Herbosa.