IFC, Bayer to train Phl farmers

The International Finance Corp. (IFC) and Bayer CropScience Inc. are collaborating to improve of Filipino farmers.

The IFC is the private investment arm of the World Bank.

In a press statement, the IFC said the collaboration would result in the training of , Filipino farmers in the next five years to improve their farm practices, use of new technologies, and business and financial skills

“The program will also help facilitate the farmers’ access to financing so they can invest in their farms and increase their incomes,” the IFC said

ayer CropScience president and managing director ans- oachim egfahrt said the low productivity of hilippine farms would put the country at a disadvantage once the economic integration of the Association of Southeast Asian ations begins

“This is part of the reason for this training pro ect, which will leverage IFC’s global expertise in reducing rural poverty and ayer CropScience’s experience in boosting farm productivity to benefit Filipino farmers,” egfahrt added

Through the collaboration, which is supported by the government of Canada, IFC would work with ayer CropScience to train farmers on their crop production and financial management skills

It also aims to complement and reinforce the training with communication tools such as emailed pamphlets and online videos to effectively reach the estimated , farmers throughout the country

The IFC noted that ma ority of poor Filipinos still live and work in farms, and their incomes have been affected by the decline in farm productivity and competitiveness

IFC is helping them through this training pro ect and other programs that improve post-harvest facilities, reform shipping and food safety processes, and develop affordable agriinsurance

In the hilippines, percent of its land is used for agriculture which employs nearly one in every three working Filipinos

The agriculture sector contributed percent to the gross domestic product ( G in , down from percent in , and percent in

The decline was due to poor irrigation systems and other agricultural infrastructure, an inefficient transport and logistics chain, the high costs for seeds, fertili ers and machineries as well as the lack of training for farmers to improve their production methods and financial literacy

overty in agricultural households is three times higher than in other sectors

The IFC works with private enterprises in more than countries, through the use of capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity

Investments last year climbed to an all-time high of nearly billion, leveraging the power of the private sector to create obs and tackle the world’s most pressing development challenges