PRESIDENT Ferdinand “Bongbong” Marcos Jr. signed on Tuesday, September 13, 2022, an executive order for the one year moratorium of the annual amortization and interest payments of agrarian reform beneficiaries (ARBs).The Department of Agrarian Reform (DAR) said the issuance of the order is Marcos’ fulfillment of one of his promises during his first State of the Nation Address (Sona).This aims to help unburden the agrarian reform beneficiaries (ARBs) from their debts, enabling them to use the money instead in developing their farms, maximizing their capacity to produce and propel the growth of the economy.DAR Secretary Conrado Estrella III said the order is also a preparation for another fulfillment of Marcos’ commitment, which is for Congress to pass a law that will condone the loans of ARBs with unpaid amortization and interests.During his Sona, Marcos said the condonation of the existing agrarian reform loan will cover the amount of P58.125 billion, benefiting around 654,000 ARBs and involving a total of 1.18 million hectares of awarded lands.“We always think about the farmers’ welfare. The one-year moratorium and condonation of farmers’ loan payment will lead to freedom of farmers from debts,” he said.Under Section 26 of the Republic Act 6657, or the “Act Instituting a Comprehensive Agrarian Reform Program to Promote Social Justice and Industrialization, Providing the Mechanism for its Implementation, and for Other Purposes,” ARBs who were awarded lands are required to pay to the Land Bank of the Philippines in 30 annual amortizations at six percent interest per annum.Under the proposed amendment of the law, the loans of ARBs with unpaid amortization and interest shall be condoned and erase the outstanding debts of the farmers who are beneficiaries of agrarian reform. (SunStar Philippines)