Some 1,309 farmer-beneficiaries in Bohol are now debt-free after the Department of Agrarian Reform (DAR) issued Certificates of Condonation with Release of Mortgage (COCROM) to them, effectively canceling their outstanding loans with the Land Bank of the Philippines.
The move is part of the implementation of the New CARP Emancipation Act, which aims to emancipate farmer-beneficiaries from their debts incurred under the Comprehensive Agrarian Reform Program (CARP).
According to DAR Assistant Secretary for Legal Affairs Virgilio Mendez, the issuance of COCROMs is a testament to the government’s commitment to freeing farmers from debt bondage.
"This is a milestone in our efforts to empower farmers and help them achieve economic stability," Mendez said.
DAR Regional Director Sheila Enciso explained that under the CARP, farmers who acquired land from private owners were required to pay for the land.
However, with the issuance of COCROMs, these farmers are now exempt from paying their outstanding loans.
The total area of land covered by the COCROMs is approximately 1,089 hectares, with a total value of P19.2 million.
Bohol DAR Provincial Office Chief Dr. Ronald Pumatong said that the move will enable farmers to use their land as additional capital for farming, pay for their children’s education, or settle other debts.
COCROMs are backed by Certificates of Land Ownership Awards (CLOAs) and electronic titles, which serve as proof of the farmers’ ownership of the land.
Enciso pointed out the importance of taking care of the land, citing the growing population and the need to increase food production. (PIA Bohol)
