Magsaysay urges LGUs to back YFP

Sen. Ramon Magsaysay Jr. is urging elected local government officials to support the Young Farmers Program (YFP) which could help provide livelihood for their constituents and generate more jobs in their respective localities.

YFP is a novel agricultural program introduced by Magsaysay to encourage young graduates of agriculture, fisheries and other related courses, as well as budding entrepreneurs to venture into agribusiness. An initial amount of P10 million has been allotted for the program and is now being allocated to project proponents to help them augment their capital for their business activities.

Magsaysay said infrastructure support could be provided by local government units (LGUs) through allocation of more funds for the construction of cost-effective public infrastructure facilities which would be useful for the production, distribution and marketing of commodities and crops to be produced by the YFP participants.

Under the Agriculture and Fisheries Modernization Act (AFMA), LGUs are mandated to coordinate with the Department of Agriculture (DA) to address the infrastructure requirements in their respective localities. The law provides that construction of farm-to-market roads shall be the priority investment of LGUs, which shall provide a counterpart of not less than 10 percent of the project cost subject to their IRA level. Other priority projects that LGUs can establish are water supply system, standardized market systems, abattoirs, ice plants, cold storage and solar driers.

Magsaysay said financial support, could be extended by LGUs to their constituents who wish to participate in the YFP but could not put up the needed equity for their projects.

"I observed that many YFP applicants are having difficulty in producing their equity. I hope that LGUs can provide assistance to their constituents to address this particular problem," the senator said.

Magsaysay lauded and cited the initiative of Mayor Jose Carlos Cari of Baybay, Leyte who reportedly said that he would assist interested participants to the program among his constituents by extending them collateral and interest-free loans to put up their equity. The funds will come from the local government.