MANILA, Philippines: The Department of Agriculture (DA) said Saturday that the national government will provide credit and insurance assistance to farmers and fishers affected by the El Niño phenomenon.

Assistant Secretary Arnel De Mesa, DA spokesman, said at least P500 million credit assistance will be provided to farmers and fishers for them to cope with the dry spell caused by the phenomenon.

About P1.8 billion in insurance claims will also be distributed to the affected farmers and fishers, de Mesa added.

At least P25,000 credit assistance will be given to each affected farmer and fisher and a maximum of P20,000 insurance claims may be granted as well.

Also, de Mesa said the DA is readying the distribution of P5,000 financial assistance to rice farmers and P3,000 fuel subsidy to both farmers and fishers provided under the national budget.

As of Feb. 25, 2024, damage to agriculture was estimated at P357.4 million, hitting mostly farms in the Mimaropa (Mindoro, Marinduque, Romblon, Palawan), Western Visayas, and Zamboanga Peninsula Regions.

The phenomenon has affected 7,668 farmers so far.