BARMM SEEKS APPROVAL OF AGRI-MICROFINANCE BILL

A BILL seeking the establishment of a government microfinance program for small farmers and fisherfolk in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) was filed in the Bangsamoro Parliament. Parliamentary Bill 184 or the proposed “Bangsamoro Agricultural Microfinance Act of 2023” was filed by Amir Mawallil, one of the principal authors. “Agriculture is a vital sector in BARMM, providing livelihood to about 70 percent of the region’s population. However, small-scale farmers and fisherfolk who comprise the majority of the sector face various challenges that hinder their productivity and income,” Mawallil said. In his explanatory note, Mawallil said the measure aims to promote financial inclusion by reaching out to the unbanked and underserved communities in rural areas who have limited access to credit, inadequate infrastructure, insufficient market linkages and suffer from low productivity due to outdated farming practices and the climate crisis as well. Mawallil noted that this “neglect resulted in an underdeveloped agricultural sector in the region that has not fully realized its potential.” The bill, which was filed last Thursday, is authored by Mawallil and Members of Parliament Rasol Mitmug, Sittie Fahanie Uy-Oyod, Hashemi Dilangalen and Hamid Malik, and co-authored by Laisa Alamia, Baintan Ampatuan, Don Mustapha Loong, Suharto Ambolodto and Rasul Ismael.