NEDA DANGLES TAX PERKS TO 4 AGRI PROJECTS’ DONORS

Four projects supporting the development of rural farms and sugarcane plantations have been added to this year’s list of priority programs where private-sector donations will be given tax-exempt.

State planning agency National Economic and Development Authority (Neda) last week included four more projects—all being implemented by the Department of Agriculture (DA)—to the initial four it identified in March as part of the 2021 national priority plan (NPP).

The additional projects included the DA’s ongoing eight-year Philippine rural development project (PRDP) aimed at a “modern, climate-smart and market-oriented agri-fishery sector” by boosting competitiveness, incomes and productivity in the farms.

The PRDP partners with the private sector and local governments to provide facilities, infrastructure and technology to rural farmers.

On July 19, Finance Secretary Carlos Dominguez III on behalf of the Philippine government signed the loan agreement for the World Bank’s $280-million second additional financing for the PRDP, which the Washington-based multilateral lender approved in June.

The three other projects added by Neda to this year’s NPP were being implemented by the DA’s Sugar Regulatory Administration, namely: soil rejuvenation and fertilization of sugarcane farms with low productivity; sugarcane farm mechanization and water management/irrigation support for sugarcane farms.