THE PHILIPPINES is seeking to attract $57.4 million in agricultural investments during a global investment forum happening this week.
The Food and Agriculture Organization (FAO) of the United Nations said that the country will pitch proposals to international financial institutions and private investors during the FAO Hand-in-Hand Investment Forum to be held at its headquarters in Rome from Oct. 13 to Oct. 16.
“The priority agrifood value chains include coffee, seaweed, mango, jackfruit and cocoa, with proposals aimed at boosting farmers’ incomes, creating economic opportunities in rural communities and strengthening climate resilience,” the FAO said in a statement on Oct. 12
“Additional proposals focus on processing, machinery and other value addition for mango, jackfruit and cocoa,” it added.
The coffee sector seeks the largest investment requirement of $26.4 million, followed by seaweed with $24.8 million.
The FAO said the country’s agricultural investment portfolio carries an average projected internal rate of return of 24.6 percent, with an estimated net present value of $42.2 million.
The Philippines’ agrifood investment portfolio is a result of the collaboration between the Department of Agriculture, FAO and the Asian Development Bank.
“As we look ahead, the department remains committed to building on these gains. With FAO and our partners, together, we will continue to pursue innovative inclusive solutions that create greater opportunities for our farmers and fisherfolk and strengthen resilience,” Agriculture Secretary Francisco Tiu Laurel Jr. said.
“The portfolio presented by the Philippines illustrates how partnerships between government, the private sector and international organizations can help de-risk investments and generate economic returns, while improving farmers’ livelihoods and strengthening the resilience of agrifood systems,” FAO Representative in the Philippines Lionel Dabbadie said.
The Philippines is participating in this year’s edition of the Hand-in-Hand Investment Forum in Rome after staging its first Hand-in-Hand National Investment Forum in March, where it pitched around P1 billion worth of agrifood investments.
It forms part of a “broader effort to mobilize public and private financing for Philippine agriculture, moving beyond traditional development assistance towards investments that can deliver both financial returns and measurable development benefits,” the FAO said.
Also, these investments are expected to enhance improve rural livelihoods, strengthen market access and increase the resilience of agrifood value chains, as well as reduce greenhouse gas emissions. (Jordeene B. Lagare © Philippine Daily Inquirer)
