CODVIP
gogo jili UN agency sets P 4.7-B funding for poverty alleviation
COMPOSITE IMAGE: JEROME CRISTOBAL FROM INQ FILE PHOTOS
The Department of Finance (DOF) has secured P4.69 billion worth in funding from the International Fund for Agricultural Development (Ifad) for a project that will support 350,000 people in 86 agrarian reform communities (ARCs) in the country.
The intention is to help fight poverty through value chain innovation and sustainable natural resource management.
Article continues after this advertisementThe DOF on Saturday said the Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities (Vista) project will help 52 ARCs in the Cordillera Administrative Region and 34 ARCs in Soccsksargen, which covers the provinces of South Cotabato, Cotabato, Sultan Kudarat and Sarangani, and General Santos City.
FEATURED STORIES BUSINESS National ID gives more Filipinos ‘face value BUSINESS BIZ BUZZ: Unwinding Gogoro … quietly BUSINESS Polvoron maker seeks P500 million capital for expansionREAD: Gov’t poverty metrics: You’re not poor if you spend P21 per meal
The project has an estimated total cost of P6.23 billion, of which P4.69 billion will be financed by the Ifad, which is based in Italy and is an agency of the United Nations.
Article continues after this advertisementThe project seeks to alleviate rural poverty, enhance livelihoods and boost the resilience of impoverished communities in vulnerable upland areas of the country. It aims to achieve this by improving the inclusiveness of value chains and promoting the conservation and sustainable use of natural resources.
Article continues after this advertisement Targeted approach“The Vista project is a holistic and targeted poverty-fighting and sustainable development solution that takes into account the complex realities faced by our 86 agrarian reform communities,” Finance Secretary Ralph Recto said in a statement.
Article continues after this advertisementThe projects comprises three main components which are ecosystem planning, protection, and enhancement; sustainable value chain development; and project management.
READ: SWS: 58 percent of Filipino families rate themselves poor in Q2 survey
Article continues after this advertisementRecto said the project will create more jobs and businesses, boost income, enhance protection against climate change, and improve living conditions for the people in both regions.
Meanwhile, Ifad vice president Gerardine Mukeshiman said the project will enhance rural resilience against environmental challenges in the regions, as well as modernize agriculture and agribusiness.
Subscribe to our daily newsletter
The DOF said that the ceremonial exchange of the document was held between Recto and Ifad country director Umit Mansiz on Friday. INQgogo jili
READ NEXT Asian markets battle to match Wall Street rally ahead of US in... Stocks mostly rise ahead of US pricing data, ECB meeting EDITORS' PICK WPS: US missile deployment to PH key for combat readiness – US general QC Mayor Belmonte highlights social services in State of City Address Marcos smiled, walked away when asked about VP Duterte’s accusation Party-list system: What to know ahead of 2025 polls LIVE UPDATES: Tropical Storm Kristine WPS: US missile deployment to PH key for combat readiness – US general MOST READ SC issues TRO vs Comelec resolution on dismissed public officials Tropical Storm Kristine slightly intensifies; Signal No. 2 in 5 areas LIVE UPDATES: Tropical Storm Kristine Espenido retracts drug-related allegations vs De Lima View comments