IN a major step towards empowering farmers, the government has condoned P57.798 million in agrarian reform-related debts for 1,483 agrarian reform beneficiaries (ARBs) from Bulacan, Aurora, and Bataan.
Senator Imee Marcos personally handed over 1,792 Certificates of Condonation with Release of Mortgage (COCROMs) covering 719.607 hectares of land during a ceremony held on November 24, 2024, at the Victory Coliseum in San Rafael, Bulacan.
“The government is lifting the heavy burden of debts tied to your farmlands for years. Your amortizations, interest, and surcharges are now erased,” Marcos announced, highlighting the significance of the debt relief initiative.
She acknowledged the decades-long struggle of ARBs with mounting debt and encouraged them to take advantage of the fresh start to improve their livelihoods.
Marcos also assured the farmers of continued government support in addressing their challenges.
This initiative is part of Republic Act No. 11953, also known as the New Agrarian Emancipation Act (NAEA), which was signed into law in July 2023.
The legislation mandates the condonation of unpaid principal amortizations, interest, and surcharges on agricultural lands awarded under the Comprehensive Agrarian Reform Program.
One of the beneficiaries, Ernesta Jocson, a 60-year-old widow from Baler, Aurora, expressed her gratitude after being relieved of P203,839.49 in debt tied to her 2.7-hectare property.
“I am very happy and grateful to our dear President. For a long time, we were not able to pay our debts to the Landbank due to lack of extra income. Now, I will not be worried about my debts anymore,” she said.
In addition to the debt condonation, Marcos also distributed 57 Certificates of Land Ownership Award (CLOA), covering 40 hectares and benefiting 49 ARBs, as well as 128 electronic land titles under the Support to Parcelization of Lands for Individual Titling (SPLIT) Project.
These titles, comprising 100 ARBs, cover parcels of land in Bulacan and Bataan.
This ceremony marked the fourth COCROM distribution in Central Luzon, following earlier events in Nueva Ecija, Tarlac, and Pampanga, underscoring the government’s commitment to uplifting the region’s farmers.