Go Negosyo signs MOA with DA, Landbank to promote financial inclusivity to the agri sector

Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion signed a Memorandum of Agreement (MOA) with Department of Agriculture (DA) Secretary William Dar, and Land Bank of the Philippines President and CEO Cecilia Borromeo to promote inclusive growth through financial inclusivity and accessibility for the agri-enterprises, farmers, and fisherfolks in the country. Said team-up between Go Negosyo, DA, and Landbank aims to provide financial accessibility in support of the country’s ‘agripreneurs’ affected by the COVID-19 pandemic.

On that note, Concepcion said that the said collaboration of Go Negosyo with DA and Landbank, along with other initiatives of Go Negosyo, is a big help for the country’s aspiring agripreneurs.

“We want to leave something behind for the benefit of all. Now that we only have few months left, we want to establish programs to create continuity and sustainability for this sector,” Concepcion said.

“All of these programs take time. Our own advocacy has in fact taken 15 years,” he added.

Concepcion also expressed his gratitude to the banks for their efforts to help the country survive the crisis. “The banking community has lost confidence so I’m glad that Landbank has tied up with us,” he said.

On a different note, Concepcion shared that the current pandemic is a silver lining for the entrepreneurs in a different perspective. “If there is anything good that pandemic has done is to help MSMEs go digital,” he stressed.

“I’d like to thank Sec. Dar, and Ma’am Cecilia Borromeo for your continued confidence. Our survival will depend on coexisting with virus. Our goal is to how to open the economy so we can coexist with COVID-19. The next quarter will help spell the difference,” he expressed.

Meanwhile, Secretary Dar thanked Go Negosyo and Landbank for collaborating with the agency’s efforts for agripreneurship.

“Agripreneurship is the way to unleash the potential of Philippine agriculture so it can continue to be very resilient to contribute to our economy,” he said.

“The leanings we had under Go Negosyo, the 3Ms—Money, Market, and Mentorship—are important,” Dar added.

“With the Kapatid Mentor ME program, there are a lot of trainings with Go Negosyo. Even our farmers are being transformed to agripreneurs. I hope we can constantly identify programs and projects in support of agriculture and agripreneurs,” he further stressed.

On the other hand, Landbank President and CEO Cecilia Borromeo stressed that the said financial institution will be expected to have continuous support to the betterment of our agriculture sector.

“Rest assured that we will fulfill our role to promote financial sustainability among different stakeholders in the agriculture,” Borromeo said.

She also explained that they are already set to open digital lending system, with the entire lending process using online steps. “We are set to launch our digital lending system. When this is already available, agripreneurs can apply loans using their mobile phones. It will facilitate end-to-end loan process until the loan release and collection. This will be made available before the year ends,” she added.

Borromeo also shared that they are eyeing to increase the number of beneficiaries from the agri-sector who “We have already assisted a total of 2.94 million fisherfolks and farmers and we are confident that we will exceed this. Through training, we can help them become more capable. We hope that this collaboration will strengthen the agribusiness sector. We want to have the list of KAMMP graduates so we can possibly offer credit to them,” Borromeo shared.