DA allocates P1.1 billion for agri-industrial business corridor

MANILA, Philippines — The Department of Agriculture (DA) is allocating P1.15 billion for the implementation of the Agribusiness Corridors-Inclusive Agribusiness Program (ABC-IAP).

Agriculture Secretary William Dar said the money would go to the first year implementation of the ABC-IAP, which is aimed at further developing agri-industrial business corridors (ABCs).

The DA described ABCs as a tool for promoting sustainable agricultural development through value chains with agricultural clusters along existing infrastructure corridors and establishing transformative multi-sectoral public-private partnerships and providing catalytic financing to attract capital from domestic and international, public and private sources.

The ABCs will house agribusiness and multipurpose facilities that will be key to managing and integrating the food supply chain, as well as introducing innovative agricultural technology to farmers.

“The ABCs are projected to unleash the growth potential of the sector as DA amplifies inter-agency collaboration to promote and attract location-focused public and private investments interconnecting access to raw materials, market, technology, infrastructure and utilities, the DA said.

Under the ABC-IAP, the DA is targeting to increase the number of farmers and fisherfolk enterprises with value-adding products that are integrated in a particular agri-industry sub sector.

It also aims to support scalable agri-business enterprises and establish sustainable business relationships among chain players through the agri-industrial facilities.

The program also seeks strong support on the local food systems by leveraging resources through public-private-community partnerships.

Meanwhile, a steering committee composed of representatives from concerned DA offices will prepare and oversee the implementation of the ACB-IAP and formulation of policies and synergies, and attract private sector participation in agribusiness development.

The committee, to be headed by Agriculture Undersetary for Agri-industrialization Cheryl Marie Caballero, shall meet regularly and conduct program review, assess the progress and milestones as well as monitor the attainment of outcomes.

An external review panel of experts will also be tasked to oversee and elevate science quality to global standards, harmonize initiatives between DA and other implementing agencies, screen and endorse project proposals for approval by the steering committee and evaluate the performance of the program in collaboration with external partners, whenever necessary.