The order designates ACPC as the DA’s authorized body to implement specifically the provisions on modes of alternative compliance stipulated in the Implementing Rules and Regulations (IRR) of RA 10000, also known as the Agri-Agra Reform Credit act of 2009.

          Among the tasks to be performed by ACPC under the IRR are the formulation of eligible criteria and accreditation procedures for non-bank rural financial institutions (non-bank RFIs) and debt securities; the accreditation of non-bank RFIs in which banks can invest or lend; determining the eligibility of bonds issued by the Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP) and other debt securities; and certifying accredited non-bank RFIs and eligible debt securities. ACPC is also responsible for reporting and transmitting to the BSP the list of specific eligible debt securities and accredited non-bank RFIs at the start of every quarter, or as often as necessary.

          The designation will help ACPC in its efforts and advocacy to enhance access to production loans and other financial services and programs that increase market efficiency and promote modernization of the agriculture and fishery sector. Production loans are one of the key interventions instituted by Secretary Alcala to attain rice sufficiency and food security by 2013.

          ACPC OIC-Deputy Executive Director Magdalena S. Casuga and Mr. Kennedy Garabiag, Project Development Officer IV are the ACPC focal persons who will deal with concerns pertaining to accreditation of non-bank RFIs and bonds. RA 10000 was approved by the Fourteenth Congress last 23 February 2010.