Beyond Buzzwords: Transforming Philippine Agriculture!

ACEF ExeCom Meeting (June 6, 2022)

Author: DA Communications Group | 6 June 2022

The Agricultural Competitiveness Enhancement Fund (ACEF) Executive Committee (ExeCom) held its second quarter meeting on June 6, 2022 to discuss updates on the ACEF Program.

“ACEF is such an important program that’s needed not only for now but in the future,” Agriculture Secretary William D. Dar said during the meeting.

The agri chief and ACEF ExeCom chair added that the Rice Tariffication Law should serve as a model for other commodities so that tariffs collected from the importation of agricultural products will be given back to benefit the local farmers and fisherfolk.

The ACEF Program has three components: 1) lending/credit; 2) research for development (R4D); and 3) Grants-in-Aid for Higher Education Program (GIAHEP)/scholarship.

Members of the ACEF ExeCom include Land Bank of the Philippines President and CEO Cecilia Borromeo, Commission on Higher Education (CHED) OIC-Chairperson J. Prospero De Vera III, Farmers’ Associations and Cooperatives Representative David Santos, and Fisherfolk Associations and Cooperatives Representative Alexander Agra.

The LANDBANK reported that it has released loans amounting to P7.05 billion. Individual farmers and fishers availed 90% of the loan, micro and small enterprises availed 6%, and cooperatives and associations availed 4% of the loan.

On the other hand, 75% of the disbursed loans went to traditional crops, 9% to high value crops, 6% to livestock and poultry, and 10% to fisheries.

Secretary Dar said that more cluster farms and farmers cooperatives and associations should be encouraged to avail of the ACEF loans, and the program promotion should be enhanced for other priority commodities.

Since 2018, the ACEF R4D component led by the Department of Agriculture-Bureau of Agricultural Research (DA-BAR) funded 90 projects under technology commercialization and upgrading of research facilities amounting to P450 million.

For the ACEF scholarship component that is jointly implemented by DA and CHED, the program already sponsored 11,318 scholars, and 6,008 of them already graduated. ###

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