September 9, 2024 | 12:00am
MANILA, Philippines — The Philippines has secured almost P5 billion in financing from a specialized agency of the United Nations aimed at improving the agricultural value chain in several agrarian reform communities.
Finance Secretary Ralph Recto and International Fund for Agricultural Development (IFAD) country director Umit Mansiz signed the loan financing for the Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities (VISTA Project).
The project has a total cost of P6.23 billion. Of the amount, P4.69 billion will be financed by IFAD.
The project is expected to help 34 agrarian reform communities in South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City (Soccsksargen) and 52 communities in the Cordilleras Region to reduce poverty through value chain innovation and sustainable natural resource management.
It targets to boost livelihoods and increase the resilience of poor communities in vulnerable upland areas of the country by strengthening the inclusiveness of value chains and mainstreaming conservation and the sustainable use of natural resources.
It has three components: ecosystem planning, protection and enhancement; sustainable value chain development; and project management.
“Farmers for instance will benefit from sustainable farming practices, better post-harvest facilities and improved farm-to-market roads that connect their goods to markets efficiently,” Recto said.
“We will also cultivate a new breed of entrepreneurs who will drive innovation in coffee and cacao production, processing and marketing in the country. All these while maintaining the cultural integrity of the communities and preserving the natural ecosystem in the area.”
The Departments of Agrarian Reform, Agriculture and Interior and Local Government, as well as concerned local government units will be implementing the project.
Over the next six years, VISTA will enhance rural resilience against environmental and economic challenges for approximately 350,000 people in Soccsksargen and Cordillera.
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