The Aquatic Resources Acceleration (AQUA) Lending Program aims to help increase the contribution of the fishery sector in achieving food self- sufficiency, provide credit assistance to existing and/or prospective fishing operators in acquiring fishing vessels for domestic or overseas use to support re-fleeting and modernizing commercial fishing vessels, assist institutional buyers, fish processors/canning companies and fish growers to actively participate in the development of the fishing/aquaculture industry, provide readily available credit facility to target program beneficiaries and expand the portfolio of the Bank in the fishery sector.
| ELIGIBLE BORROWERS | • Fishers’ Cooperatives/Associations and their Federation • Micro, Small and Medium Enterprises • Large Agri-business • Entities/Corporations • Countryside Financial Institutions • Fishery Graduates or with certificate of at least two (2) years training related to fishery production | |
| LOAN PURPOSE | • Purchase/acquisition of brand new or second-hand/refurbished commercial fishing boats and related equipment • Repair/retrofitting of commercial fishing vessel • Purchase of fishing banca and paraphernalia • Purchase of inputs for Aquaculture/ Mariculture Production • Working Capital for Trading/Marketing operation • Fixed Assets and installation of support facilities • Pond development and/or improvement • Building Construction • Purchase or long-term lease of production pond and/or facility • On-lending/Relending/Rediscounting | |
| LOANABLE AMOUNT | • For Production: Up to 80% of the total project cost • For Working Capital: within computed working capital requirement • For Fixed Assets - not more than 80% of the validated acquisition/construction cost • Rediscounting: up to 90% of current outstanding balance of the sub PN being rediscounted |
