Senator Francis “Kiko” Pangilinan wants small-scale fisherfolk to use their boats, fishing equipment and even future fish catch as collateral when applying for loans.
Pangilinan filed two bills seeking to make bank financing more accessible to small-scale fishers, who often have difficulty getting loans because they lack conventional collateral.
Under Senate Bill No. 2514, or the proposed Fisheries Asset Collateralization Act, movable assets such as boats, fishing gear, cold storage, receivables from fish sales and future catch could be registered and used as collateral.
“Ang pinakamagandang paraan para mapakita natin ang pagpapahalaga natin sa ating mga mangingisda ay bigyan sila ng patas at abot-kayang access sa puhunan,” Pangilinan said.
The also filed SB 2513, which seeks to set aside a portion of the credit quota for agriculture and fisheries specifically for fisheries and aquaculture projects.
Under the measure, at least half of that allocation would go to small-scale fisherfolk.
Pangilinan said easier access to financing would allow fishers to repair or improve their boats, acquire equipment and invest in cold storage, post-harvest facilities and other livelihood activities.
The senator warned that the lack of financing for fishers could eventually affect the country’s fish supply and prices.
“Kapag hindi natutulungang makautang ang mga mangingisda para magkaroon sila ng kapasidad na makahuli ng mas madami, apektado ang supply ng isda. At kapag ganyan ang nangyayari, tataas na naman ang presyo sa merkado at mas kakaunti na naman ang kakayaning bilhin ng ating mga mamimili,” he said.IMT
