Table of Contents
Report from the President and CEO
Cluster A’s Aggressive Campaign
Cluster B’s Barometer for Effective Planning
Cluster C’s Crucial Task of Financial Management
The Year That Was : A Revisit of Major Events
Prospects for Tomorrow and Beyond
Chairman's Message
The
agriculture industry plays a vital role in economic development and national
progress. Comprising 20% the Philippines’ Gross Domestic Product (GDP), the
agriculture sector employs 4 out of 10 Filipinos today. What comprises the
dynamism of the agriculture sector is the unselfish contribution of people
who have made this industry great. The barometer by which we base our
performance largely depends on one’s ability to p r o d u c e and a f f o r
d food. Equal to this daunting task is the challenge to sustain the momentum
of growth.
The impeccable performance and contribution of the Quedan and Rural Credit
Guarantee Corporation (QUEDANCOR), continues to serve as among the catalysts
for the work of modernizing Philippine agriculture. The impressive
performance of QUEDANCOR as the government’s credit and guarantee arm
propelled the participation of the banking industry and other financial
institutions topool their resources with the end-view of reinvigorating the
agri-fishery sector.
QUEDANCOR was able to efficiently deliver its sole mandate of providing
genuine, affordable and accessible credit to the country’s marginalized
farmers, fisherfolk and small entrepreneurs through the provision of
P5.1 billion worth of loans for year 2004.
This historical-first accomplishment highlighted in this report is a clear
manifestation of government’s full support to farmers in the field and
fishers at sea.
Today, QUEDANCOR prides itself not of the huge loan portfolio it has
funneled, but how it significantly helped in uplifting the lives of its
marginalized beneficiaries.
As Chairman of this dynamic and professional agency, I take pride and
distinct honor with QUEDANCOR’s laudable accomplishment in the year 2004 and
in championing the cause of making an improvement in the lives of every
Filipino.
(Sgd.) Hon. ARTHUR C. YAP
Secretary, Department of Agriculture
Chairman, QUEDANCOR Governing Board
Report from the President and CEO
A
chain is as strong as its weakest link. Each part must complement one
another to keep the balance and equilibrium, thereby create a strong and
definitive whole. Any particular organization can be likened to a chain
whose every piece of iron cast forming intertwined set of strings must be
precisely wrought out to put essence to the very purpose of its existence.
From its heralded beginnings, the Quedan and Rural Credit Guarantee
Corporation, which emerged from the reins of erstwhile Quedan Guarantee Fund
Board, underwent several underpinnings traipsing on the agenda of
facilitating to uplift the standard of living among the poorest of the poor
in the countryside. This noble though challenging task has been the core
focus of an institution that revolutionized standards in the context of
credit provision.
While there is pressure to meet the demand for credit resources, there has
to be a relative movement that has to take place within the organization.
Clearly, QUEDANCOR understands the consequential necessity to intensify its
functional lines in order to directly hit its corporate goals and achieve
its periodic targets as well.
Year 2004 is the golden harvest season for QUEDANCOR in reaping the fruits
of its labor. It is a milestone in the history of the Corporation as it
propelled to greater heights in agri-credit delivery. The functional
organization has been laid-out. Operating systems have been put in place.
And the massive implementation of the agency’s Self-Reliant Team (SRT)
Financing Programs has reached the very core of the agri-fishery industry’s
concern.
Amidst the occurrence of several natural calamities, the Corporation
unwaveringly pursued to deliver its credit services to the agricultural
sector. Its 2004 loan performance surpassed all its achievements over the
past 26 years of existence.
From about P 966 million loans in 2000, QUEDANCOR unleashed an all-time high
of P 5.1 billion loans in 2004, 54% average annual growth over the period.
The momentum is on. The challenge ahead is far more enormous. We work on
calculated speed. And we are on the right track. Let us continue with what
we have started and mutually create an environment where our farmers and
fisherfolk can rest their hopes and ambitions with us.
(Sgd.) NELSON C. BUENAFLOR
President and
Chief Executive Officer
Quedan and Rural Credit Guarantee Corporation
Performance Highlights
Loan and Guarantee Releases
The
Corporation successfully exceeded its loan performance target of P4.2
billion by managing to release a total of P5.098 billion in 2004, which
benefited more than 320,000 farmers, fisherfolk, retailers, millers and
small entrepreneurs nationwide under its various programs. This
translates to 121% accomplishment versus its target and 100% higher than
it's year ago lending performance (Table 1). Cumulatively over the past 26
years, total loan releases amounted to about P36 billion.
The Corporation attained the P5 billion mark at year-end with an average monthly output of P425 million (Figure 2).
Of the total loan releases for the year, Region 6 registered the highest generation amounting to P724 million, followed by Region 1 with P579 million and CARAGA with P458 million (Figure 3).
The massive
implementation of the QUEDANCOR SRT Swine Financing Program all over the
provinces of Aklan and Iloilo significantly contributed to the economic
development of Region 6.
Following the region of Western Visayas' loan accomplishment is Region 1
with a P579 million aggregate loan release figure for 2004. Partly to be
mentioned in this feat is the successful financing program for high value
crops which the Corporation is currently engaged in.
The remarkable output generated by the lobster and grouper (lapu-lapu) fish
cages in the CARAGA region is considered as the main catalyst for the surge
of the region's over-all performance, as it netted a total of P458 million
for 2004. Notable beneficiaries hail from the islands of Dinagat, San Jose
and Siargao, among others.
Geographically, Luzon accounted for the biggest share of the total loan generation at 46%, followed by Mindanao at 32%, with Visayas taking the least share of 22%, albeit recorded the highest growth rate of 205%.
In terms of commodity / project financed, livelihood projects comprised 35% or P 1.8 billion of the total loan releases, followed by grains at 24% or P 1.2 billion. The balance of P 2.1 billion was released for high value crops, livestock and poultry, fisheries and other commodities.
Clusters in Action
QUEDANCOR's all-time high annual loan generation of P5.1 B is no simple feat. Everything boils down to the efficiency of the Corporation’s structure and the competence and professionalism of its personnel, not to mention the common shared ideas of public service constantly harnessed in the hearts of its corporate manpower by the agency's dynamic leadership.
Cluster A's Aggressive
campaign toward
loan generation
and management…
Being at the forefront of the entire corporate operations,
the Loans Management Cluster veers toward streamlining
the corporate direction en route to the overall achievements
of the Corporation's annual loan generation.
Credit
and Guarantee Department (CGD)
The Credit and Guarantee Department plays a pivotal role in the area of
operations. The department has been actively working on the evaluation of
direct lending accounts. For 2004, seventy (70) accounts for direct lending
including those under the Agricultural Competitiveness Enhancement Fund (ACEF)
and nine credit guarantee applications have been assessed and given
appropriate actions.
In coordination with the 14 Regional Offices, CGD aggressively implemented
the Self-Reliant Team (SRT) Programs of the Corporation. In particular, it
supervised the operationalization of the National Card for Beneficiaries of
SRT or NCB Card. Majority of the clients coming from Mindanao particularly
in the CARAGA region are among those who have pioneered the use of the NCB
Card. The issuance of 732 additional Cards was facilitated giving CARAGA
Self-Reliant Team (SRT) borrowers more option and access to credit.
It is also an inherent function of CGD to conduct technical briefing on
field officers on proper procedures and processing of Group Credit Life
Insurance (GCLI) application, death claims and credit evaluation among
borrowers and/or beneficiaries. This year, the department has a more
proactive means in the revision of credit evaluation reports and evaluation
sheets to hasten evaluation of loans, especially in district and
regional offices.
Collection and Remedial
Management Department (CRMD)
More than the conduct of actual collection of in-arrears and past due
accounts, the Collection and Remedial Management Department, by virtue of
its other relative functions, took a harder route to track down recoveries
and ensure that repayment rate would reach a higher notch than in the
previous year.
Likewise, the department successfully pursued the approval of 3,712 accounts
valued at P506.9 million for remedial actions. Impressively, this was 89%
higher than the P341.8 million target. Total recoveries stood at P347
million as of year end.
Security,
Investigation and Property Appraisal Department (SIPAD)
Aside from securing the Corporation's infrastructures and personnel, SIPAD
kept busy on conducting background and credit investigations on special
accounts as well as its regular function of providing appraisal reports on
assets subject as collateral for loan application and remedial actions.
Likewise, SIPAD provided the necessary security services to the delegates of
the FAO-AFMA Regional Seminar and Executive Meeting throughout the week-long
activity held last December 2004 in Manila.
The event was among the highlights in the on-going thrusts of the
Corporation to be actively involved in the international scene in order to
draw interest and
win confidence of foreign investors to invest their resources in the
countryside.
In an effort to heighten the efficiency of the Corporation's security
personnel, a Security Manual was drafted and implemented among security
officers from central office down to the regional and district offices
throughout the country. SIPAD proved to be an effective unit acting as an
indispensable legwork in the conduct of countrywide operations.
Cluster
B's Barometer
for effective planning
and organizational efficiency…
Year 2004 symbolized significant gains
for the Corporation in terms of its loan operations
and fund
generation brought about by forged partnerships with banks and other
financing institutions.
Part of this successful run is made evident
by the dedicated and efficient service rendered
by the departments comprising the
Corporate Services Cluster.
Planning Services Office (PSO)
The daily transactions in which QUEDANCOR operates is based on the systems
and guidelines crafted by the Planning Services Office. The Office is in
charge of assessing, drafting and conceptualizing project proposals,
Memorandum of Agreements (MOAs) and other related materials relevant to the
internal and external business affairs of QUEDANCOR.
Among the loan proposals generated from last year include the Proposal on
Joint Venture between and among the Land Bank of the Philippines, Agumil
Philippines, Incorporated and QUEDANCOR for Oil Palm Farmers, the P2 billion
ONL Bond Flotation simulation between Equitable-PCI and QUEDANCOR and
QUEDANCOR-CDA Financing Program for Cooperatives.
PSO also managed to draft several research and position papers regarding the
various commitments attended by QUEDANCOR officials in the country and
abroad. These include the country paper presented by President and CEO
Nelson C. Buenaflor entitled: “Quedancor: Building a Niche in Promoting the
Growth of Supermarkets as Retailers of Fresh Produce” when he attended the
FAO-AFMA Regional Workshop in Malaysia and the FAO Country Paper on
Marketing Tie-ups and the Role of Traders Association and Commodity Boards
in the Agricultural Marketing System.
In assessing the country's agriculture scenario, the Corporation drafted the
10-10 Investment Blueprint for Agri-Business Land and Employment Generation
which is aimed at determining the suitable and marketable agri-fishery
commodities in various parts of the country.
On the other hand, training workshops and seminars were held to fortify the
participation and understanding about how certain approaches and plans were
to be implemented within QUEDANCOR's function in line with credit allocation
to the countryside. Among such seminars include the Orientation Workshop on
Project Cycle Management and the 2004 Luzon, Visayas and Mindanao Credit
Packaging Workshop, Coordination and Communication.
Information Technology Department
(ITD)
Viewed as an essential component to transmit viable data necessary for
day-to-day operations, information technology is widely regarded as the
current tool of modern communication schemes and designs.
The Information Technology Department has been at the forefront of
implementing the necessary technological advancement in carrying out the
Corporation's loan funding tasks in each of the archipelago's 79 provinces.
2004 marked a year of accomplishments for ITD, as it was able to dutifully
attain its target goals, such as:
-
Approval of the National Computer Center for the implementation of QUEDANCOR's ISSP 2004-2006. This is a three-year Information Technology Plan that aims to improve and uphold the procurement and delivery of necessary IT goods and services.
-
Setting up of the QUEDANCOR Data Center. Through this set-up, an efficient network was established from the central office down to the field offices. This was sustained through periodic maintenance of IT equipment and the installation of necessary software and hardware to optimize operating systems. Adequate training on troubleshooting and basic equipment operation were likewise undertaken.
-
Help desk services for phone-in inquiries and requests for technical support. These are in areas of Network System Administration, Database / Security and Hardware Maintenance. The department deployed the ILMS, Accounts Receivable, Insurance and Rediscounting Routines in the Regional and District Offices.
-
Development of customized routines and maintenance. These included the following: Document Tracking Module installed in the Office of the President; Loan Application Monitoring used by the Credit and Guarantee Department; QUEDANCOR Provident Fund Membership and Loans Monitoring installed in the QPF; Aging of Receivables, Buy-Back Module for UCPB and PVB; Receivables Payment Rate Computation; Sale of PNs and other routines.
-
Periodic update and maintenance of the QUEDANCOR web site through its government domain http//www.quedancor.gov.ph
Administrative Services Division
(ASD)
With
three divisions under its jurisdiction (Manpower Resources Division,
Property and Supplies Division, and General Services Division), the main
function of ASD is to ensure that all corporate requirements are met insofar
as recruitment of personnel, procurement of basic services and supplies and
the maintenance of office facilities and related corporate services.
The Department oversees that implementation of plans and programs relevant
to the development of the manpower pool are utilized effectively so as to
ensure that QUEDANCOR will have a competent and skilled workforce dedicated
to their assigned task. Rearing these individuals to be responsible citizens
in society is likewise of paramount concern.
The 2004 Manpower Development Accomplishment Report included internal and
external programs aimed at providing employees with upgraded skills and
training. These training included: Fire Prevention and Control Seminar,
Workshop on Formation of SRT Municipal Association / Cooperative, Seminar on
Public Sector Unionism, Hands-On Computer Training for the implementation of
QUEDANCOR Loan Monitoring System.
The External Program is composed of forums, seminars and workshops namely:
the Executive Forum, Seminar on Government Procurement Reform,
Seminar-Workshop on Revised Policies on Personnel Inspection and Audit and
CSC Agency Accreditation Program, SEARCA International Conference,
among others.
Cluster C's Crucial
task
of financial management...
The crucial aspect of
managing the Corporation's finances needs a meticulous and careful outlay of
cash flows and budgets to ensure the daily operations of the company as well
as its different departments and field units. Expansion of corporate reach
through establishing more offices and employing qualified personnel is also
one concern the Finance Management Cluster decides.
Despite the need to release billions of loans for QUEDANCOR's operational
purposes and its growing expenses which totaled to P170 million, the
Corporation has acquired total assets of P11.5 billion (compared to last
year's P6.098 billion) coming from cash and cash equivalents, trade and
long-term receivables, acquired assets and other current assets. A total of
P1.40 billion of stockholder's equity was also accumulated from the capital
stock, retained earnings and donated capital. In the same manner,
QUEDANCOR's liabilities decreased by P1.7 billion or 12% compared to last
year's P1.8 billion. This is an indication of a good credit and financial
management of the Corporation.
The responsibilities under Cluster C are divided among the Treasury
Department (TrD), the Corporate Receivables and Payables Department (CRPD)
and the Accounting and Budget Department (ABD). Each has its own set of
functions to attend to in utilizing the funds of the Corporation. CRPD
handles and computes QUEDANCOR's acquired income coming from thousands of
borrowers nationwide. At the same time it manages the Corporation's
liabilities from partner banks and private firms. The ABD, meanwhile,
summarizes the company's financial reports and allots budget for operational
expenses. The TrD attends to sourcing funds and tie-ups to maintain
QUEDANCOR's pool of funds.
During the year, the Corporation obtained fresh funds coming from the
following: a rediscounting facility from Land Bank of the Philippines worth
P3 billion, loan from Equitable-PCI Bank worth P2 billion, sale of
promissory notes from the Philippine Veteran's Bank and United Coconut
Planter's Bank and the P70 million loan facility of the National Food
Authority and Corn Development Board.
Preliminary works were also undertaken for the possible P5 billion loan with
the Japan Bank of International Cooperation. The Provincial Government of
Tarlac entrusted to QUEDANCOR a P15 million fund for extending credit to
qualified borrowers, with the signing of the Memorandum of Agreement (MOA),
designating the Corporation to screen and approve agricultural projects in
the province.
The strong partnership between QUEDANCOR and the capital market resulted to
a wider scope to extend its financial assistance to the agri-fishery sector.
Through the generated funds, QUEDANCOR was able to channel critical credit
to the Corporation's various agri-fishery programs, thus helping boost
countryside development.
Specialized Offices
Legal Affairs Department (LEAD)
Cases
litigated by the Legal Affairs Department for the year 2004 reached three
hundred eleven (311) amounting to P71.6 million. The outstanding balance as
of December 2004 is P71.3 million.
Collections as a result of account negotiations from client borrowers
reached P1.4 million.
Meanwhile, collection
through redemption / repurchase of properties amounted to P5.6 million.
Eleven borrowers availed of the condonation program
with a combined amount of P7.0 million.
Table shows the specific accounts facilitated by the Legal Affairs Department as of December 2004.
Internal Audit Office (IAO)
In assessing the effectiveness of current management internal systems, a
thorough audit of the same must be conducted. This function is well kept
within close watch by the Internal Audit Office (IAO).
For the year 2004, the Luzon Audit Division evaluated the adequacy and
effectiveness of the internal control system of eleven (11) District and
Regional Offices in Luzon and National Capital Region (NCR). This resulted
to the discovery and deterrence of significant control breakdowns, such as
weaknesses and mediocrity in operations.
The division likewise evaluated QUEDANCOR's current systems on collection
management, communication services management, management of information and
technology resources and the control systems of the provident fund.
The Visayas-Mindanao Audit Division monitored the financial and audit
operations of regions VI, VII, VIII, IX, X, XI, XII and CARAGA. The audit
activity transpired from March to September of 2004, with respective
recommendations for top management to improve their localized office
systems.
Public Information Office (PIO)
More
than just providing central management with needed corporate literature such
as brochures, primers, annual reports, special news, supplements, power
point presentations, draft messages and speeches, the Public Information
Office (PIO) provided QUEDANCOR ample media and event mileage through a
responsive management of its corporate image.
The PIO in coordination with the Field Services Division (FSD) and the
Information Technology Department (ITD) spearheaded the Self-Reliant Team
Congress. The convention pushed the dynamics involved in the implementation
of the Self-Reliant Team financing model nationwide.
Likewise, the Department participated in 30 agri-fishery exhibits throughout
the country. Among the major events were the 2004 Food Expo and the Farmers
and Fisherfolk Month. Another significant affair was the launching of the
Gender And Development Program for Women. On top of these are the full photo
and video coverage of 72 QUEDANCOR activities and special events.
A total of 62 advertorial texts for various leading national and local
publications and magazines were provided by the office. These advertorial
texts were utilized for the massive campaign of the SRT financing program
nationwide. Sixty news captions for photo releases were also executed within
the year.
The office is also responsible for the preparation of 114 successful SRT
client stories. These stories were sent to the Office of the President in
Malacanang, office of the Department of Agriculture Secretary, to name a
few, to help the government bring the news of countryside development to the
entire population.
The Year that was
A Revisit of Major Events
Agri-Credit
Achievement Medallion Awardees
The
outstanding performance of QUEDANCOR in the year 2004 was also highlighted
by the awarding of the Agri-Credit Achievement Medallion to personalities
instrumental in sourcing out more investment and creating crucial linkages
to promote countryside development and rural growth.
QUEDANCOR's success is not possible without the help and support of people
like Department of Finance Secretary Juanita Amatong, Bangko Sentral ng
Pilipinas Governor Rafael B. Buenaventura, BSP Monetary Board Member Melito
S. Salazar, Jr., Director Arsenio M. Balisacan and Rural Banker's
Association of the Philippines President Daniel Vidal R. Arcenas.
Secretary Juanita Amatong is one of the first women ever elected by an
eight-country constituency in the World Bank as Executive Director.
Secretary Amatong provided QUEDANCOR the inspiration and direction in
tapping the private funds of banks and become less dependent on the
government in fulfilling its mandate for the agricultural sector. She is
cited for her active involvement and advocacy on rural finance.
Bangko Sentral ng Pilipinas Governor Rafael B. Buenaventura is another
recipient because of his achievements in keeping the stability of the
banking system and the campaign to improve new laws against money
laundering. Gov. Buenaventura was adjudged as the Central Bank Governor of
the Year for the Asian Region in 2001 by Banker Magazine and awarded Asia's
Most Outstanding Banker by AsiaMoney in 1991.
BSP Board Member Melito S. Salazar's paper during an event in Asian
Development Bank served as an eye-opener. His work discusses the state of
micro-finance in the country and how important for banks, especially those
in the countryside to focus on micro-finance activities. His initiative gave
the impetus for a number of countryside banks to go into micro-finance.
Dr. Arsenio M. Balisacan, PhD., Director of the Southeast Asian Regional
Centre for Graduate Study and Research in Agriculture (SEARCA) which is the
regional center for agriculture of the Southeast Asian Ministers of
Education Organization (SEAMEO) also has his share of credits. His
continuing research provides references for promotion and strengthening of
rural finance in the country, stressing the importance of environmental and
social objectives.
Rural Banker's Association of the Philippines President Daniel Vidal R.
Arcena's tenure as RBAP Chief ushered close linkages and cooperation with
key government agencies, especially QUEDANCOR in promoting development in
the countryside through the implementation of various financing packages for
the agricultural sector.
24th FAO AFMA Executive Committee
Meeting and Regional Workshop
Neighboring
Asian economies saw the Philippines making headway in the international
arena as an active member of the Food and Agriculture
Organization-Association of Food and Agricultural Marketing Agencies in Asia
and the Pacific (FAO-AFMA), a UN-led international organization.
It was in 2004, that QUEDANCOR grabbed a significant slate and a coveted
role as the Chairmanship of the FAO-AFMA was conferred to its President and
Chief Executive Officer Nelson C. Buenaflor, after automatically
relinquishing his previous two-year stint as vice chair in the said regional
cooperation. For another two consecutive years beginning last year, bigger
thrusts are expected to be delivered and promulgated by the Corporation.
During QUEDANCOR's recent hosting of the 24th Executive Committee Meeting of
AFMA and FAO/AFMA/QUEDANCOR Regional Workshop held in Manila from November
29 to December 04, 2004, the Corporation was again instrumental in culling
together all member-economies to discuss and address vital issues and
concerns that would create
breakthrough
approaches to define and strategize the Role of Trader Association and
Commodity Boards in Agricultural Marketing and Credit in Asia, hence such
theme.
The most important contribution of QUEDANCOR in that week-long activity was
the strong stance in the regional campaign to reaffirm the critical role of
trader associations and commodity boards across Asia-Pacific.
Such commitment has been laid down and outlined thru a paper study by the
Philippine delegation aptly titled, “Marketing Tie-ups and the Role of
Trader Associations and Commodity Boards in the Philippines”, which was
presented by QUEDANCOR President and CEO Nelson C. Buenaflor, who shed
insights on the significance of these institutions on the Philippine
agricultural industry.
QUEDANCOR- SEARCA Training
Program
Pursuant to its objective of harnessing the individual skills and talents of
the Filipino farmers and fisherfolk as worthwhile beneficiaries of
QUEDANCOR's Self-Reliant Team financing program, the Corporation forged an
agreement with the SEAMEO Regional Center for Graduate Study and Research in
Agriculture (SEARCA) to provide the necessary training and skills
enhancement for its multitude of agri-fishery clients.
Entitled “Strengthening Capacity of Self-Reliant Team (SRT) Leaders in
Agribusiness and Credit Management”, the training component, held from March
to December 2004, involved five batches each composed of 30 SRT leaders from
various parts of the country. The maiden workshop was held in Los Baños,
Laguna where SRT urban retailers of the province attended the seminar. This
was followed by SRT tomato beneficiaries coming from Batac, Ilocos Norte.
Concluding the Luzon leg were fisherfolk participants from Pili, Camarines
Sur. The southern swing of the QUEDANCOR SRT-SEARCA training included SRT
livestock raisers-beneficiaries in Iloilo City and corn farmers hailing from
Cagayan de Oro City.
New Programs
The
Corporation developed new programs to address the growing credit
requirements of Filipino farmers, fisherfolk and small entrepreneurs.
The Swine Program was established to re-stock the country's hogs industry
and attain sufficiency in pork, through the provision of affordable credit
for swine raisers on their fattening and breeding activities.
This has become one of the most successful programs of the Corporation that
as of December 2004, it released more than P700 million worth of loans
vis-à-vis the P 500 million target for the year, which eventually produced
45,918 fatteners out of 12,639 sow level financed under the program.
The
QUEDANCOR-San Miguel Corporation (SMC) program for corn, cassava, sorghum
and soybean was launched to boost the country's production of feed
ingredients by providing credit assistance to assemblers/integrators.
Initially, the program was pilot-tested in Maramag, Bukidnon and South
Cotabato covering 301 hectares of corn farms. QUEDANCOR also crafted a
Financing Program for Poultry with SMC, adopting the Tunnel Ventilated
Technology.
The Cooperative Lending Program in partnership with
the Cooperative Development Authority was launched primarily to finance
viable projects of cooperatives and their other businesses. At present, the
Corporation is processing P109 million worth of loan applications through
its regional/district offices.
New Offices
The Corporation established six additional extension offices nationwide.
Under the supervision of the respective District Offices, this expansion
will further enhance the agency's credit delivery services in support of the
government's ten-point agenda on job generation and development of
agribusiness lands. This brings the number of extension offices to 12 to
complement QUEDANCOR existing 14 Regional Centers and 63 District Offices.
Prospects
QUEDANCOR looks ahead to building a stronger groundwork in achieving agricultural progress via its innovative and farmer-friendly agri-credit programs. Initiatives and internal reforms will continuously be undertaken to ensure a fast and effective delivery of services. Further, consultations with various rural borrowers and entrepreneurs will remain a priority of the Corporation to guarantee relevance of its programs. Closer coordination with LGUs and financing institutions, mainly the banks, will also be emphasized to secure greater synergy in providing more funds to agriculture and in reducing the risk in the sector.
For 2005, the Corporation projects to generate P5.7 billion loans for
farmers, fisherfolk, traders and small entrepreneurs nationwide. Of this
amount, P5.3 billion will be set aside for direct lending and P438 million
for guarantees.
Given this task, QUEDANCOR is faced anew with the challenge of stirring its
regional and district offices to meet the growing credit requirements of the
agricultural and fisheries sectors, notwithstanding the austerity measures
adopted by the government. With support from its institutional partners and
gauging from its strong 2004 performance, QUEDANCOR is optimistic that it
can attain or even exceed its 2005 corporate targets.
