Philippine govt. agencies sign P50-Billion Food Supply Chain Deal

07 Oct 2010

Source:  Manila Bulletin
The Philippines Department of Agriculture, Department of Finance, and the Land Bank of the Philippines have launched a P50-billion food supply chain program to support the government’s campaign for food sufficiency and higher productivity.

Agriculture Secretary Proceso J. Alcala, Finance Secretary and Landbank Chairman Cesar V. Purisima and Landbank President and Chief Executive Officer Gilda E. Pico signed the memorandum of understanding for the program. Landbank has made available P50 billion to support the financial needs of various enterprises engaged in crop, livestock, and fishery production. The Fund can be tapped for working capital and the acquisition of processing equipment and other fixed assets.

With these facilities, Landbank and its partners believe farmers and fishermen, along with animal breeders, can raise their yield and improve efficiency. As conceived, the food supply chain program aims to raise farm incomes since the fund may be used to improve value added, with farmers improving the quality of their products.

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