Quezon farmers get loans to plant more jatropha

Farmers who have planted jatropha curcas in Tagkawayan town in Quezon province, Philippines, have received more than Php25 million (US$526,250) in loans from the Land Bank of the Philippines (LBP) and Philippine National Oil Co.- Alternative Fuel Corp. (PNOC-AFC) for the plantation and cultivation of jatropha. Tagkawayan Jatropha Farmers Multipurpose Cooperative (TJFMC) received ceremonial checks worth Php7.5 million (US$157,875) from LBP and Php18.5 million (US$389,425) from PNOC-AFC for planting some 1,174 hectares of jatropha. In May 21, 2008, Quezon Governor Raffy Nantes signed a tripartite memorandum of agreement with LBP and PNOC-AFC for a Php4.3 billion (US$90.51 million) loan to finance the plantation and production of jatropha curcas on 100,000 hectares in the entire province. (July 20, 2009)