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Neda says rice fund to modernize farms

The National Economic and Development Authority said the bulk of the Rice Competitiveness Enhancement Fund will be used to modernize rice farms and support the government’s goal of increasing the sector’s productivity.

Republic Act 11203 mandates the establishment of RCEF, which guarantees the rice sector P10 billion in financial support annually for the next six years beginning 2019. 

According to the law’s implementing rules and regulations recently signed by Neda, the Department of Budget and Management and the Department of Agriculture, half of the Rice Fund amounting to P5 billion annually would be used to procure rice farm equipment by the government through the Philippine Center for Postharvest Development and Mechanization.

Equipment such as tillers, tractors, seeders, threshers, rice planters, harvesters, and irrigation pumps will be given as a grant-in-kind, primarily to eligible farmers, rice farmer associations and registered rice cooperatives.

Topics: National Economic and Development Authority , Neda , Rice Competitiveness Enhancement Fund
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