MULTINATIONALS EYED TO PUT UP AGRIBUSINESS ENTERPRISES

Multinationals and other investors are to be wooed in putting up rural and agribusiness enterprises to attract city dwellers to go back to the provinces as part of the Duterte administration’s push to operationalize a planned “Balik-Probinsiya” program.

Agriculture Secretary William Dar said the plan to entice multinationals to put up agribusiness enterprises is part of what he termed as “the whole-of-nation approach” that the administration is setting up and that will involve other government agencies.


The DA will work  with other government agencies” to create more livelihood opportunities and employment for both agri-fishery and non-farm sectors, “ in the provinces, he said.


On top of this, the government agencies will try to “ enhance the capacities of farmers’ cooperatives and associations (FCAs), and extend technical, financial and marketing support to ensure the success “ of the Balik Probinsiya Program or B2P.


Earlier, Senator Bong Go filed a bill in the Senate for the B2P program to decongest the urban areas and foster economic activity in the countryside.


“We want the BP2 program beneficiaries to be productive and self-sustaining. As such, we will help them enlist as members of FCAs, teach them modern and innovative technologies, provide them farm inputs, machinery, and equipment, and give them access to affordable credit,” Dar said.


Thus, the DA through its Agricultural Credit and Policy Council (ACPC) will provide BP2 program beneficiaries financial assistance, including micro and small enterprises (MSEs), millennials, and existing agripreneurs.


Individuals can borrow P25,000, zero interest, payable in 10 years, while MSEs can secure loans of up to P10 million, zero interest and payable in five years under the program which dovetails with the DA’s pronouncement to reboot agriculture in this time of the pandemic.

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