PANIQUI, Tarlac (Sept. 30, 2024) — A total of 3,527 agrarian reform beneficiaries (ARBs) in Tarlac province have been relieved of more than P124 million in debts tied to agricultural lands granted through the agrarian reform program.
President Ferdinand “Bongbong” Marcos Jr. personally handed out 4,663 Certificates of Condonation and Release of Mortgage (COCROMs) to ARBs during a ceremony at the Eduardo Cojuangco Gymnasium here this morning.
This debt relief is part of the government’s implementation of Republic Act 11953, or the New Agrarian Emancipation Act (NAEA), which the President signed into law in July last year. The law mandates the condonation of all unpaid principal amortizations, interest, and surcharges on agricultural lands awarded under the Comprehensive Agrarian Reform Program.
“The government is lifting the heavy burden of debt that has been tied to your farmlands for years. Your amortizations, interest, and surcharges are now erased,” Marcos said in his address.
He acknowledged that many ARBs have been struggling with agrarian reform-related debts for decades and encouraged them to seize this opportunity to improve their lives, while also reassuring them of continued government support.
“With these blessings comes the responsibility to make our lands more productive, not just for your progress but for the entire country,” Marcos added. “Our challenges won’t end here, but today serves as a reminder that the government stands ready to help you.”
In line with NAEA, the Department of Agrarian Reform (DAR) is actively working to forgive unpaid loans and interest on agricultural lands covered by agrarian reform laws. The goal is to distribute up to 300,000 COCROMs by 2025.
The Tarlac event marks the third COCROM distribution in Central Luzon, one of the country’s top producers of rice and other major crops, following previous distributions in Nueva Ecija and Bulacan.
