The Department of Finance (DOF) said the Philippines secured P4.69 billion in financing from the International Fund for Agricultural Development (IFAD) to support a project aimed at helping 86 agrarian reform communities in South Cotabato, Cotabato, Sultan Kudarat, Sarangani, General Santos City and the Cordillera Administrative Region (CAR).
“[T]he VISTA [Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities] project is a holistic and targeted poverty-fighting and sustainable development solution that takes into account the complex realities faced by our 86 agrarian reform communities,” Finance Secretary Ralph Recto said.
The VISTA Project aims to reduce rural poverty, strengthen livelihoods and increase the resilience of targeted poor communities in vulnerable upland areas of the country by strengthening the inclusiveness of value chains and mainstreaming conservation and the sustainable use of natural resources.
It has three components including ecosystem planning, protection, and enhancement, sustainable value chain development; and project management.
This will benefit 52 and 34 agrarian reform communities (ARCs) in the CAR and SOCCSKSARGEN, respectively.
The project has an estimated total cost of P6.23 billion, of which P4.69 billion (equivalent to EUR 78.62 million or $85 million) will be financed by the IFAD.
Recto said farmers would benefit from sustainable farming practices, better post-harvest facilities, and improved farm-to-market roads that connect their goods to markets efficiently
“We will also cultivate a new breed of entrepreneurs who will drive innovation in coffee and cacao production, processing, and marketing in the country. All these while maintaining the cultural integrity of the communities and preserving the natural ecosystem in the area,” Recto said.
He said the project would not only transform the target communities but also help unlock their full potential as the country’s sustainable growth drivers and key pillars of national food security.
