Saving the coconut farmers

BREAKTHROUGH

- ELFREN S. CRUZ

Below is a draft copy of an Executive Order recently submitted to President BBM for his approval. It is intended to revive the coconut industry and bring prosperity for the ordinary coconut farmer, finally putting the coconut levy fund to good use. I personally urge that this draft EO be approved immediately.

Executive Order No. _____, 2025

An act re-establishing UCPB Savings Bank, Inc. as the financial intermediary dedicated to providing medium and long-term financing to coconut farmers and ensuring the development of the coconut industry.

WHEREAS, the coconut industry is one of the great economic pillars of our nation, and coconuts and their by-products occupy a leading position among the country's export products; that it gives employment to thousands of Filipinos; that it is a great source of the State's wealth and that it is one of the important sources of foreign exchange needed by our country and thus pivotal in the plans of a government committed to a policy of currency stability.

WHEREAS, it is imperative to protect the rights and welfare of coconut farmers, recognizing their critical role in the agricultural sector and their contribution to the national economy.

WHEREAS, in 1971, former President Ferdinand Marcos Sr. signed into law Republic Act No. 6260 as a commitment to accelerating the growth and development of the coconut industry, by providing adequate medium- and long-term financing for capital investment in the industry through the creation of the "Coconut Investment Fund." Such Investment Fund is capitalized and administered by coconut farmers to ensure that they would have access to the capital needed to invest in their future.