DA to Establish an Inclusive Growth in Agribusiness Program


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inclusive growth in agribusiness program
Photo credit from Manila Bulletin

The Department of Agriculture (DA) Secretary William Dar proposed to establish an inclusive growth agribusiness program that will entice youth in agriculture.

Based on the report of GMA news, the secretary will look for a Php 500,000 loan to set-up the said program for the younger generation to engage in farming.

Dar emphasized the need of youth to engage in agriculture since the average age of farmers is already at 60 years old.

“One objective is to set up a fund for them so that upon graduation or those that are in the countryside wanting to go into agribusiness, they will be given some start-up capital,” explained Dar.

Farmers can loan up to Php 500,0000 when they can present a feasibility study, alongside with their transcript,which can encourage youth to venture in agriculture.

“They present this and be able to get P500,000 and that’s 0% interest and payable in five years,” Dar said.

In pursuing the inclusive growth in agribusiness program, Congress should be the front liner to show support because they are responsible in approving the yearly budget.

We need legislative support to make it possible that this will be a big national program,” he said.

Source: https://www.gmanetwork.com/news/money/economy/715964/agri-dept-looking-at-p500k-loan-program-to-entice-youth-to-enter-farming-sector


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Nath Mindanao

An Agribusiness economist. I scribble more about agriculture, politics and economics.

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