GO Negosyo founder Jose Maria Concepcion III has called for increased lending to farmers, emphasizing the potential for agriculture to become a profitable business. He witnessed the signing of a memorandum of agreement between the Land Bank of the Philippines and Yovel East Development Inc., aiming to combine expertise in farm clustering and financial support to empower farmers.
GO Negosyo founder Jose Maria Concepcion III has urged financial institutions to increase lending to farmers, aiming to make agriculture a more profitable venture. Concepcion made this call during the signing of a memorandum of agreement between the Land Bank of the Philippines (LandBank) and Yovel East Development Inc. ( Yovel East ) in Manila on Tuesday.
He stressed the abundance of land and talent in the Philippines, emphasizing the need to shift the mindset of bankers and recognize the potential profitability of farmers. Concepcion stated that by showing farmers' capacity to generate profits, financial institutions would be more inclined to provide them with the necessary capital.The agreement between LandBank and Yovel East combines Yovel East's expertise in farm clustering through its We Will Rice program with LandBank's financial support via its Agrisenso Plus Lending Program. Concepcion highlighted how this partnership streamlines rice production, enhances profitability, and promotes sustainability. He also noted its aim to boost agricultural efficiency, economic growth, and food security.Concepcion further explained that this agreement grants farmers under Yovel East's management access to crucial resources: money, markets, and mentorship—the essential pillars of successful entrepreneurship, according to Go Negosyo's philosophy. One of Go Negosyo's programs, the Kapatid Angat Lahat sa Agri Program (Kalap), aims to integrate small farmers into the value chain of large agricultural corporations. Yovel East is a pioneering big-brother company in Kalap.LandBank President and CEO Lynette Ortiz acknowledged that financial assistance is just one aspect of addressing the agricultural sector's challenges. She cited the We Will Rice Program as an example of creating significant impact by providing farmers with access to essential resources, modern technologies, and a comprehensive production process that elevates their livelihoods and competitiveness.Yovel East's We Will Rice program has evolved from simply providing fertilizers with an after-harvest payment scheme to offering comprehensive support to farmers. They finance everything from seeds, chemical inputs, and fertilizers to machinery and even daily cash and labor costs, helping farmers survive. Ultimately, Yovel East purchases and markets the produce, boasting thousands of farmers in its network after only five years of operation.James Amparo, Yovel East President and CEO, emphasized the uncertainties faced by farmers, including weather fluctuations, water availability, financing for inputs and machinery, and even finding markets for their harvested produce. Amparo stated that the partnership aims to leverage the strengths of each sector: farmers focusing on farming, LandBank providing capital, and the private sector, led by Go Negosyo, offering management expertise to ensure sustainability.Concepcion underscored the importance of institutional support for cooperative farming models like Yovel East, enabling them to scale up and continue their impactful work. LandBank's Agrisenso Plus Program is designed to provide comprehensive support to small farmers, fishers, and agribusinesses, featuring expanded eligibility, lower interest rates, and a simplified loan process. The program targets 10,000 beneficiaries, including small farmers, fishers, and agrarian reform beneficiaries (ARBs), to access credit assistance and capacity-building support. This aims to enhance productivity, increase income, and foster sustainable growth. Agrisenso Plus also extends coverage to small fishers and micro, small, and medium enterprises involved in the agricultural value chain. It offers small farmers and fishers, along with ARB borrowers, free life insurance and credit life insurance
Agriculture Farmers Lending Finance Go Negosyo Landbank Yovel East We Will Rice Program Agrisenso Plus Lending Program
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