TSPI launches a new product which provides small Filipino rice farmers- tilling 5 hectares or less, with access to farm credit. With a production loan of P 20,000 or US$ 365, rice farmers are provided with hybrid seeds and the necessary labor and farm intputs to maximize the productivity of a one hectare rice land from the average of 5 tons to 7.5 - 12 tons. With this expected increased productivity, TSPI aims to double the farmers net income from P 23,000/1 hectare/4 months of production to P43,000.   

The pilot will cover 50 farmers from Victoria Town, Tarlac. The first batch of loans will be released in the first week of May 2005 and rice seeds will be sown on 15 May 2005 in time for the rains in June.

TSPI has established a partnership with reputable institutions as a means to mitigate risks. Bayer Crop Science, Inc. ensures the availability of high quality hybrid seeds as well as provision of improved farm practices training to farmer-clients. The Department of Agriculture will extend further technical assistance such as soil analysis to guide farmers in the right application of farm inputs. Crop insurance in case of natural calamity is made available through the Philippine Crop Insurance Corporation. TSPI enjoys product development technical assistance from the Microfinance Council of the Philippines, Inc. and Punla.