IN 1967: Agri Loan At 6% Interest Per Annum, Payable In 10 Years

When the late big boss of PAGASA, Dr. Roman Kintanar, and his lawyer wife Genorasa were starting to farm commercially in 1967, the couple borrowed P72,000 from the Development Bank of the Philippines (DBP) at 6% interest per annum and 10 years to pay. They used the money to build poultry houses.

This, we learned when we interviewed Dr. Kintanar in the late 1980s. Thinking about that now, why canโ€™t the lending institutions in the Philippines give the same low interest with longer maturity today?

If that happens, more people would be investing in Agriculture. More of the young generation would get into farming as a business. That way we would not have to worry about why there are very few young people who are interested in agriculture.

We are just thinking aloud. Maybe, the financial experts can enlighten us.

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