‘Up to $100 million investment pledges secured for agriculture’

MANILA, Philippines — The Philippines can secure up to $100 million in potential investments to support the country’s agricultural value chain, according to the Department of Agriculture.

DA Assistant Secretary Arnel de Mesa said the country could expect substantial investments from international financial institutions and private sector partners after the agency participated in the Hand-in-Hand (HIH) investment forum in Rome last week.

The agency presented 27 proposals, with the investment portfolio covering coffee, seaweed, mango, jackfruit and cocoa.

“We had about 12 bilateral meetings, so we can expect big investments. There were more that we wanted to meet, but there was no more time,” De Mesa, who represented the DA at the event, told reporters.

He added that among the largest to receive investment pledges were seaweeds and coffee, accounting for a combined 50 percent of the total.

The agency initially aimed to generate $57.4 million in private sector investments and showcase the export potential of the country’s high-value crops.

The portfolio was developed in partnership among the DA, the United Nations Food and Agriculture Organization (FAO) and the Asian Development Bank (ADB).

According to the FAO, the Philippines’ investment profile offers an average projected internal rate of return of 24.6 percent.

Under the initial proposal, coffee accounted for around $26.4 million in proposed investments, while investments for seaweed were initially pegged at $24.8 million.

The remaining $6.2 million covered investments in products like mango, jackfruit and cocoa, which are focused on improving processing, machinery and other value-added components.

“The portfolio presented by the Philippines illustrates how partnerships between government, the private sector and international organizations can help de-risk investments and generate economic returns while improving farmers’ livelihoods and strengthening the resilience of agrifood systems,” FAO representative in the Philippines Lionel Dabbadie said.

The HIH Initiative is a flagship program of the FAO, aimed at accelerating agrifood systems transformation, strengthening market access to farmers, providing better livelihoods in rural areas and improving climate resilience.