ILOILO – Through its rural enterprise component known as I-REAP, World Bank-assisted Philippine Rural Development Project (PRDP) has accepted to finance the P3.4-million business proposals of four farmers associations here.
Among these approved business ventures involve the goat production for sustainable livelihood (P990,000 ) of Inagdangan Norte and Sur Farmers Association in Zarraga and the swine fattening project (P500,000) of Iloco Farmers Association in San Rafael.
The piglet production and marketing enterprise (P999,000) of Brgy. Matag-ub Sitio Kinambud Farmers Association in Janiuay and the production and marketing of vermicompost (P999,250) of Bingawan Organics and Natural Farming Advocates Association in Bingawan will also avail of project’s benefits.
I-REAP provides fund to qualified farmers associations to implement viable business plans that contribute to the strengthening and development of agriculture and fisheries industry in the country.
Of the total project costs, for example, 60% will come from World Bank, 20% is a counterpart fund from the national government and the other 20% from the local government unit.
Just recently, Planning Officer Mila Dellomo of the Provincial Planning and Development Office said the Department of Agriculture has transferred the first tranche of funds for the four business ventures amounting to P1.2-million.
“We are now processing the documentary requirements needed to release the funds to the recipient farmers association. Once we are done, we will announce the schedule of distribution,” said Dellomo.
The funds will be released gradually and the recipients will be monitored and assisted technically on how to improve their products and sustain their businesses.
I-REAP is specifically designed to increase the productivity and marketability of agriculture and fishery products through increased access to information and support services.
It is likewise created to increase the household income of the farmers and improve the protection and conservation of the natural resource base of identified enterprises.