THE government has initially allotted P3 billion to fuel the modernization and industrialization of the country’s agriculture and fishery sector, the Department of Agriculture (DA) said.
Agriculture Secretary William Dar said the DA has been pursuing innovative approaches across all agri-fishery programs, making use of the advances in science and technology (S&T) and inclusive market-oriented development (IMOD).
“We are allotting an initial P3 billion to fund various innovative agri-fishery projects and agribusiness incubation enterprises for millennials, hobbyists, FCAs, and agri-preneurs,” said Dar following a technical meeting on the Global Innovation Index (GII) in the Philippines last February 17.
Dar said the DA will implement a management internship program, where it will hire top graduates —particularly those with Latin honors‚from SUCs and private academic institutions to work at any of the DA family agencies that fit their field of interest and academic attainment. He said the DA’s Agricultural Training Institute (ATI) is establishing a Young Farmers’ Academy that integrates under one roof all their programs and initiatives for the youth.
In particular, the DA secretary said the agency is focusing its efforts on empowering farmers’ cooperatives and associations (FCAs) and young agri-entrepreneurs by providing them not only appropriate innovative technologies, but also needed financial support by way of a start-up capital, fund for project expansion, mentoring or hiring of professional managers.
The DA recently launched the P1-billion Kapital Access for Young Agripreneurs (KAYA) loan program to attract young Filipinos, aged 18 to 30 years old, to engage in any agri-fishery project, where they can borrow start-up capital of up to P500,000, payable in five years, with zero interest.
The DA also allotted P1 billion for Agri-Negosyo loan program for micro, small and medium enterprises (MSMEs) to enable them to scale up their current businesses, as they can borrow up to P15 million, payable in five years, with zero interest.
The DA is also allocating P500 million for the Agricultural Technology Business Incubation (ATBI) program that will provide grants to Filipino millennials and agri-preneurs to translate their innovative ideas into farm and fishery products.
The department is setting aside another P500 million for the Inclusive Agribusiness (IA) program aimed at capacitating and empowering FCAs, where they can avail themselves of a grant for institution-building and hire professional managers who will help them run their enterprise. “We will engage the state universities and colleges, government agencies, and business development services to mentor the beneficiaries of the KAYA, Agri Negosyo, ATBI and IA programs,” Dar said.
Image credits: Bernard Testa
1 comment
I am a municipal 4H president in our town. Im interested in farming since we have agricultural land to cultivate and improve. Im encouraged to pursue my plan to venture in farm business because of the program existing in the department of agriculture, which is loan program. May I know how to avail the loan. Thank you for your response.