THE Philippine government is urging the international donor community to consider investing in microfinance programs focused on agriculture and more farm-infrastructure projects.

At a recent forum organized by the Department of Agriculture (DA) for members of the international donor community, Agriculture Secretary Arthur Yap noted that while the Philippine financial system has been awash with excess liquidity or monetary resources that it can readily use for lending to big-time borrowers or buying foreign exchange, the agriculture sector has traditionally been able to tap a measly 5 percent of such funds.

“The area of agricultural microfinance needs the most in terms of assistance from our donors,” said Yap in a forum held recently in Manila.

The DA invited foreign diplomats and representatives of the World Bank, International Fund for Agricultural Development (IFAD), Japan International Cooperation Agency, Korea International Cooperation Agency, Asian Development Bank (ADB) and other aid-implementing agencies to give them an overview of Philippine agriculture and the priority areas for investments in agriculture.

At the sidelines of the forum, Yap said the DA is keen on ensuring that the farm sector will be considered during the upcoming Philippines Development Forum (PDF).

The PDF is the government’s primary mechanism for generating commitments among different stakeholders, particularly foreign donor-partners, for its reform agenda.

Aside from microfinance programs, Yap said in his speech that critical farm-infrastructure projects such as small water impounding projects (Swips) also need assistance. The DA is also keen on more investments in farm research and development.

As of March this year, the DA has 48 ongoing projects worth P39.672 billion funded through foreign loans and grants. A total of P24.79 billion cover total loans from foreign institutions, while P4.769 billion involve foreign grants and P9.319 billion represent the government’s counterpart funding for these projects.

The biggest providers of official development assistance (ODA) to the DA remains Japan, through its Japan Bank for International Cooperation, which has provided P10.4 billion, or 40 percent of the department’s foreign loan program. The ADB follows as the biggest donor, providing 30 percent, or P7.4 billion of the DA’s ODA portfolio.

Japan is also the biggest grant provider for agriculture, followed by the United States. The World Bank, China, European Union, and IFAD are also among the DA’s major development partners.

PRIVATE think tank Center for National Policy and Strategy (CNAPS) expressed its disappointment over the 2004 to 2010 Medium-Term Philippine Development Plan (MTPDP) and moved to finish its own 10-year economic blueprint by the end of the year.

THE Philippine government is urging the international donor community to consider investing in microfinance programs focused on agriculture and more farm-infrastructure projects.

RICE farmers are asking the Philippine government, particularly the Department of Agriculture (DA), to “tell the truth” about the rice situation in the country.

THE Philippine government is eyeing the reduction of existing tariffs on rice and corn as a way of helping reduce the price of these commodities when sold in the local market.

THE Office of the Solicitor General (OSG) has warned the Supreme Court (SC) that the country is facing serious repercussions in its financial transactions with other countries if it does not set aside its recent decision requiring notice and hearing prior to the issuance of an order allowing bank inquiry.

NATIONAL flag-carrier Philippine Airlines (PAL) mounted its maiden flight to Chongqing on Thursday, with chairman and chief executive officer Lucio Tan and his wife Carmen, leading a delegation of leading Filipino and Chinese officials.

LA TRINIDAD, Benguet—Bottled predatory mites? Odd-sounding, but it’s the latest product trotted out by the strawberry industry of La Trinidad.