Farmers get help in skills development, market access

MANILA, Philippines - Canada is providing funding support for a project that will help farmers enhance their business management skills and financial literacy, and access better farming practices and markets for their products.

The Agribusiness Development project, to be implemented by the International Finance Corp. (IFC), will deliver financial products and services that meet farmers’ needs, facilitate partnerships between the government and the private sector and design policies, regulations and procedures that will improve the investment climate.

“It is essential to help small farmers grow their businesses and generate profits so that they become important engines of economic growth in their communities,” said Ed Fast, Canada’s Minister of International Trade, in a speech before the joint meeting of the Makati Business Club, the Management Association of the Philippines and the Canadian Chamber of Commerce of the Philippines in Makati City recently.

Canada is contributing Cad$10 million (P 400 million) to the project over five years (2013-2017) through the IFC.

The project will help improve the performance of smallholder farmers and other small- and medium-sized enterprises, in partnership with large lead firm agribusinesses, to create or improve supply chain models that can sustainably meet market and customer requirements.

This work will include assistance to farmers to enhance their business management skills and financial literacy and access better farming practices and markets for their products.

“Canada is proud to help advance the economic opportunities of women and men in the Philippines,” Fast added.

“In order to raise people out of poverty and put them on the road to prosperity, we must leverage private sector involvement and foster good governance,” he added. “private sector is the driving force behind economic growth and is essential to achieving meaningful development outcomes.”

Last month, the Philippines was confirmed as a country of focus for Canada’s international development efforts.

The goal of Canada’s international development assistance program in the Philippines is to support sustainable economic growth by improving the investment climate and advancing economic opportunities.