The Department of Agriculture (DA) is proposing a bond floatation program to finance the construction of as much as 13,000 kilometers of farm to market roadsand to fund farm and fisheries mechanization projects.
The Department of Agriculture (DA) is proposing a bond floatation program to finance the construction of as much as 13,000 kilometers of farm to market roadsand to fund farm and fisheries mechanization projects.
Emmanuel Piñol, agriculture secretary, said a technical team from DA is now preparing documents to be presented to the National Treasury for the bond float that is aimed to promote farm efficiency and productivity as well as reduce post-harvest losses, targeted to be implemented within the year.
“The proposal has been welcomed by Finance Secretary Carlos Dominguez and Central Bank Governor Nestor Espenilla, who both said that the measure would utilize the vast resources of private and commercial banks who are required by law to lend 25 percent of their loan funds to the agriculture and fisheries sector,” Piñoladded.
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