[ Manila Bulletin Online ] April 29, 2008
Momoy Cardenas
A total of P4.3-billion loan from the Land Bank of the Philippines (LBP) has been allocated to fund the 100,000-hectare Jatropha Curcas plantation in Quezon province for the massive production of biodiesel.
This was provided in the tripartite agreement approved by the LBP, the Philippine National Oil Company-Alternative Fuel Corporation (PNOC-AFC) and the Quezon provincial government led by Gov. Rafael Nantes.
The Quezon Jatropha Development Board.will process the applications of the farmers cooperatives that will avail of the loans for the Jatropha plantation.
To ensure the quality of the Jatropha seedlings that will be used for the plantation, only those from the Jatropha nursery in Barangay Malupak, Lucban, Quezon, which was accredited by the PNOC-AFC, will be utilized for the project.
Under the agreement, the provincial government of Quezon will consolidate and provide the 100,000 hectares land needed for the plantation, the LBP will supervise the approval of loans, and the PNOC-AFC will determine the quality of seedlings to be used.
A Jatropha Refinery Plant will eventually be established jointly by the provincisl government of Quezon and the PNOC-AFC to process the seeds to be harvested from the Jatropha Curcas plantation.
Under the lending scheme, the farmers cooperatives will not be charged any intrest for the first three years. Only in the fourth year will the farmers cooperatives be charged affordable loan interest by the LBP.
Gov. Nantes pointed out that rice plantations and irrigated lands will not be used for the Jartropha Curcas plantation.
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