Marcos signs IRR of Agrarian Emancipation Act

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Metro Manila (CNN Philippines, September 12) — President Ferdinand Marcos Jr. on Tuesday signed the implementing rules and regulations (IRR) of the Agrarian Emancipation Act, which will condone the loans of agrarian reform beneficiaries (ARB) worth over ₱57 billion.

Republic Act No. 11953 was signed in July, and affects the loans of more than 600,000 beneficiaries -- writing off the amortization of principal payments, interests, and penalties on the land they are presently tilling.

In his speech during the signing, Marcos lauded farmers and agrarian reform beneficiaries in making sure agricultural commodities remain accessible to Filipinos.

"It is only fitting that we recognize as pillars of this crucial sector whose impact creates positive ripples of transformation within our communities that reverberates not only for us in the present but across future generations," he said.

Marcos said his administration would do all to empower farmers and respond to their needs. Doing so, Marcos said, would allow the government to fulfill its responsibilities which in turn would help the sector fulfill their roles for the public and the economy.

"I call on everyone to support and take part in the implementation of this landmark legislation," the president said. "The need for a whole of nation approach is vital to achieve its goals and secure food production in the future."

A copy of the IRR is not yet available on the website of the Philippine Gazette as of publishing.

In his speech, Marcos also said he has extended Executive Order No. 4 for two more years to help beneficiaries not covered by the IRR as well as the moratorium in the original EO. The extension will be until Sept. 13, 2025.

EO 4, explained the president, "provides for the moratorium of the principal obligation and interest on amortization payable by the ARB, to include even those who are not covered by the new emancipation law."

The IRR of EO 4 will be formulated within 15 days of its effectivity.