BSP,DA-ACPC, BDO ink MOA empowering farmers through Financial Educ. Program

June 11, 2022 Provincial

More than 4K farmers, fisherfolk, and livestock raisers all over the country, including in the Cordilleras will undergo financial education program.
The Bangko Sentral ng Pilipinas (BSP), Agricultural Credit Policy Council (DA-ACPC), and BDO Foundation recently inked an agreement to develop a financial education program for around 4,000 small farmers, fisherfolk, and livestock raisers across the country, who are credit beneficiaries of the DAACPC, based on ACPC Facebook.
The MOA was signed by BSP Governor Benjamin E. Diokno, Department of Agriculture (DA) Secretary and DA-ACPC Governing Council Chair William D. Dar, BDO Foundation President Mario A. Deriquito, and BDO Foundation Trustee Lucy Co Dy.
Through the MOA, DAACPC will deploy the module to fishing and agricultural communities nationwide with the support of trainers from the DA Regional Agri Credit Desk Officers and Regional Loan Facilitation Teams.
The program which is the latest in a series of collaborations among the BSP, BDO Foundation, and key government agencies designed to promote financial education and consumer protection, aims to instill basic personal financial management skills, with emphasis on agriprenuers and maintaining a good credit standing among farmers, fisherfolk, livestock raisers, young agriprenuers, and repatriated overseas Filipino workers engaged in agribusiness, through
engaging and effective financial literacy modules and tools.
“We want to break the cycle of poverty for these small farmers and fisherfolk. Under the new thinking and modernization initiatives in agriculture, we uplift and transform farmers and fisherfolk into agriprenuers with improved productivity and income.
Thus, our agriprenuers need to be equipped with the right tools and attitudes when it comes to managing their finances.” outgoing DA Secretary Dar said, highlighting the importance of financial education in the agri-fishery sector.
An attached agency of the DA mandated to oversee credit and rural finance policy, DAACPC helps the government develop and implement strategies and policies that increase and sustain the flow of credit to agriculture and fisheries, improve the viability of farmers and fisherfolk, and support agriculture modernization, food security and poverty alleviation.
“Filipino farmers and fishers remain among the poorest of the poor despite the abundance of agricultural and marine resources and their hard work and perseverance.
The BSP and its partners will work together to empower our farmers, fishers, and livestock raisers to invest in a better financial and environmental future, by offering a solid financial literacy and education program,” said BSP Governor Benjamin E. Diokno.
The Governor also added that “improving financial literacy and capability in our agricultural and coastal communities contributes significantly to inclusive economic progress – fulfilling the government’s vision of a food-secure Philippines, with financially savvy and financially healthy farmers and fisherfolk.
“DA-ACPC is committed to including financial education in its capacity-building programs for farmers, fisherfolk, and livestock raisers who are beneficiaries of its credit programs.
Through this partnership, our borrowers will be able to make informed financial decisions,” DA-ACPC Executive Director Badiola added.
Primo Agatep/ABN