Nonpolitical Acef loan went to ‘successful’ project

This is in reaction to the news story on how some politicians used the Agricultural Competitiveness Enhancement Fund (Acef) of the Department of Agriculture as another avenue for the misuse of public funds. In that article, I was mentioned as one of those who got an Acef loan (“2 lawmakers gained from farm subsidies” Front Page, 5/5/14).

Let me emphasize: I do not appreciate the mention of my name together with those of politicians who got Acef loans. If I may note, I was the only one there without a government title or position. It gave the impression that my loan was secured through political connections or that my poultry project was among the dummy projects of some politicians. It clearly has potential damaging effects on my good name and reputation. To clear my name and reputation, I wish to state the following facts:

1. I do have a few relatives in politics, but I am no politician nor am I involved in politics. The fact that I have politicians for relatives or that I belonged to a political clan is a flimsy, inadequate justification for lumping me together with other politicians in reports insinuating the misuse of public funds by some of them.

2. I did avail myself of an Acef loan for one of my poultry projects in Ormoc City. However, I did not get this because of political connections. I complied with all the requirements  (project study, financial statements, cash flow projections, bank certifications, presentation before a regional technical committee and its required equity participation) for the

approval of the project and the loan. In fact, it took us over a year to comply with all of these requirements and to secure the necessary approval.

3. I have been religiously paying the quarterly amortizations of my loan per the amortization schedule of the loan agreement.

4. On Dec. 6, 2013, a little less than a month after Supertyphoon “Yolanda” hit Ormoc City and nearby towns, Agriculture Secretary Proceso Alcala  called all the livestock and poultry growers in the areas devastated by Yolanda to a meeting in Cebu City. I attended the meeting as one of those affected poultry growers. I brought before the secretary my problem with regard to my Acef-funded poultry project, which was totally devastated by Yolanda. He suggested that I write a letter addressed to him—which I did

on Dec. 9, 2013.

5. I received a reply (dated Feb. 18, 2014) to my letter from Director Leo Caneda, head of the National Technical Secretariat for Acef. The

second paragraph of this reply commended my project as “one of the most successfully implemented, as indicated by your excellent and truly commendable repayment record among

others. This, all the more, reinforces the urgency of providing relief measures to situations such as what you are currently facing.”

I hope that this letter will rectify whatever negative impressions the Inquirer may have made about me in the minds of its readers.

—IÑAKI P. LARRAZABAL JR.

Pura Agri-Ventures & Development Corp.,

Nadongholan, Ormoc City