Monday, May 6, 2024

DA gets ₧100-M fresh ADB loan for farm-fishery sector

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The Department of Agriculture (DA) said it has received a $2-million (P100 million) grant from the Asian Development Bank (ADB) to bankroll a program that seeks to “reduce income inequality” among farmers amid the Covid-19 pandemic.

In a news statement, DA said the ADB signed the agreement on Thursday to fund the Philippine Competitive and Inclusive Agriculture Development Program (CIADP2). The funding for the CIADP2 was made through ADB’s Japan Fund for Poverty Reduction.

“The CIADP2 aims to reduce income inequality by expanding economic opportunities in the country’s farm-fishery sector amid the Covid-19 pandemic,” it added.

DA said the bulk of the grant or $1.493 million, will be used to establish two rice-based cluster farm models in Luzon, Visayas, and Mindanao—to “showcase the farm and fishery consolidation and clustering [F2C2] program.” The DA added that the program will also implement cluster farming technologies used by more advanced countries like Japan, as well as neighboring rice-exporting countries like Vietnam and Thailand.

“The aim of the farm clustering is to replicate the lessons learned from relevant projects or other undertakings in the Philippines, highlighting the importance of the participation of LGUs and private sector as partners,” Agriculture Secretary William D. Dar said.

“We sincerely thank the ADB and the Japanese government for their generosity,” he added.

The DA said at least $250,000 of the grant would be used by the government to conduct a mid-term evaluation of the rice trade liberalization (RTL), particularly its impacts on the rice market, industry stakeholders and government’s role in rice trade. The budget will also cover a mid-term evaluation of the Rice Competitiveness Enhancement Program (RCEP).

“The remaining amount will be used for the conduct of rapid analyses of key agriculture commodities [e.g., coconut, sugar, and pork] for timely decision-making on key agricultural policy issues, establish a centralized database for key agricultural commodities at the DA, and assist relevant government agencies in achieving gender targets in all four concerned policy actions under CIADP2, ensuring that the program implementation will include gender mainstreaming,” it said.

The DA said the CIADP is a $400-million policy-based loan, in line with the 2017−2022 Philippine Development Plan (PDP), which aims to support government’s efforts to increase the competitiveness and inclusiveness of the agriculture sector by implementing agricultural trade policy and regulatory reforms, enhance public services and finance for the sector, and increase social protection for rural families who may be affected by the reforms.

Read full article on BusinessMirror

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