ARB debt worth P1.35 billion condoned in Negros

THE Department of Agrarian Reform (DAR) said debt owed by 7,940 agrarian reform beneficiaries (ARBs) in Negros Occidental, amounting to P1.35 billion, was condoned.

In a statement on Monday, the DAR said 15,000 Certificates of Condonation with Release of Mortgage (COCROMs) were distributed, covering about 7,026 hectares of agricultural land.

The DAR said its Negros Island Region office released a total of 18,486 COCROMs, amounting to P1.79 billion in condoned obligations.

The debt relief was authorized by Republic Act No. 11953, or the New Agrarian Emancipation Act, which allows the unpaid amortization of qualified ARBs to be condoned.

Agrarian Reform Secretary Conrado M. Estrella III said the condonation allows ARBs to redirect resources to farm development.

“By freeing our farmers from land amortization, we are giving them the chance to invest in their farms, increase productivity, and build a better future for their families,” he said in the statement. — Vonn Andrei E. Villamiel