MANILA, Philippines — President Rodrigo Duterte has signed into law a measure creating a trust fund for the country’s coconut farmers.
Duterte signed Republic Act No. 11524 or the Coconut Farmers and Industry Trust Fund Act on Friday, Feb. 26, a copy of the law sent to the media showed.
Under the law, the Coconut Farmers and Industry Development Plan will be crafted by the Philippine Coconut Authority.
It stated that the plan will “set the directions and policies for the development and rehabilitation of the coconut industry within 50 years.”
The law mandates the Bureau of Treasury to transfer P10 billion to the trust fund in the first year; P10 billion in the second year; …
Keep on reading: Duterte signs law creating coco levy trust fund