๐ฆ๐๐ก ๐๐๐จ๐ฆ๐ง๐๐ก, ๐ฃ๐๐๐, ๐๐๐ ๐๐ฅ๐๐ก๐๐ฆ ๐ฆ๐จ๐ฅ – The Department of Agriculture Regional Field Office 5 (DA RFO 5), headed by Regional Executive Director Rodel P. Tornilla, through its Agribusiness and Marketing Assistance Division (AMAD), turned over to the Municipal Local Government Unit (MLGU) of Labo, Camarines Norte a โฑ1.5M check as Business Development Assistance Component under the Young Farmers Challenge (YFC) Program, on April 8, 2025. LGU Labo is the first municipality in the Bicol Region to receive this grant, marking a significant milestone in the programโs rollout at the local government level.
The turnover ceremony was led by the AMAD OIC – Chief Engr. Luisito R. Baltazar along with the crossposted AMAD Chief, Lovella P. Guarin. Acting Municipal Agriculturist of LGU Labo, Fermin V. Loredo received the intervention on behalf of the municipality.
This financial grant aims to support the continuous development of young agri-entrepreneurs in the municipality. According to LGU Labo, they are currently planning to utilize the fund for the establishment of a Young Farmers Technology Incubation Center, a training hub that will serve as a learning ground for young farmers to enhance their skills in agri-fishery enterprise development.
The Young Farmers Challenge Program, which began in 2021, is a competitive financial grant assistance initiative by the Department of Agriculture. It empowers young individuals engaged in new agri-fishery enterprises, enabling them to become active partners in food security and agricultural modernization. The program aims to encourage youth participation in agriculture, agribusiness, and agri-entrepreneurship for sustainable development.
Engr. Baltazar also emphasized that the Business Development Assistance is the newest component of the YFC, and to be eligible for this component, LGUs must meet specific requirements including no unliquidated funds from the Department of Agriculture; authorization from the Local Sanggunian for the Local Chief Executive to enter into a Memorandum of Agreement; at least five identified program beneficiaries; and the capacity to provide a 20% equity share through capital, assets, or manpower.
This pioneering grant to LGU Labo marks a promising start for broader local government engagement in supporting the next generation of farmers and agri-entrepreneurs. (๐ฝ๐ฎ ๐๐ข๐๐ ๐ ๐๐ฃ๐ ๐ฝ. ๐๐๐ก๐ค๐ฃ๐ฏ๐ค – ๐ฟ๐ผ ๐๐ผ๐๐๐ 5) (๐๐๐ค๐ฉ๐ค ๐๐ง๐๐๐๐ฉ: ๐๐๐ฃ๐๐ง๐ ๐. ๐ผ๐๐ค๐๐๐๐ค – ๐ฟ๐ผ ๐๐ผ๐๐๐ 5)
Source: Department of Agriculture- Region V Bicol