Cong. Roman files fisheries financing empowerment bill

Bataan 1^st District Representative Tony Roman has filed House Bill 4859, or the Fisheries Financing Empowerment Act, a  measure aimed at providing small-scale fisherfolk with easier access to  bank loans, stronger financial support, and better income opportunities.

Under the proposed measure, a Fisheries Financing Unit (FFU) will be established within the Land Bank of the Philippines, which will be required to allocate at least 5% of its total loan portfolio exclusively for small-scale fisherfolk.

The FFU will also be authorized to raise funds through blue bonds, risk-sharing mechanisms, and international grants to ensure a sustainable and continuous flow of capital for the fisheries sector. FFU will offer tailored credit programs designed to match the seasonal income patterns and low-collateral conditions of fisherfolk.

Roman explained that the measure seeks to correct a long-standing imbalance in agricultural financing, where farmers typically receive more lending attention than fisherfolk.

“This bill ensures that our fisherfolk finally receive the fair financial support they deserve,” Roman said.