Agri secretary releases 150 M for abaca industry

TACLOBAN CITY — The abaca industry in Eastern Visayas faces a bright future after the release of a 150-million fund by the national government for the abaca farmers.

The announcement was made by Agriculture Secretary Manny Piñol in an interview in Davao City during the Go Negosyo program. Piñol said he released an initial fund of 150 million to the local government of Sogod, Southern Leyte which he promised when he visited the abaca farmers last August.

Piñol said the 150 million is just an initial fund for the Sogod LGU and he will be releasing the final 150 million after the liquidation of the first fund.