IFC, Bayer to train Phl farmers

MANILA, Philippines - The International Finance Corp. (IFC) and Bayer CropScience Inc. are collaborating to improve the farming skills 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 100,000 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.

Bayer CropScience president and managing director Hans-Joachim Wegfahrt said the low productivity of Philippine farms would put the country at a disadvantage once the economic integration of the Association of Southeast Asian Nations begins.

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

Through the collaboration, which is supported by the government of Canada, IFC would work with Bayer 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 100,000 farmers throughout the country.

 The IFC noted that majority 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 project and other programs that improve post-harvest facilities, reform shipping and food safety processes, and develop affordable agri-insurance.

In the Philippines, 40 percent of its land is used for agriculture which employs nearly one in every three working Filipinos.

The agriculture sector contributed 12 percent to the gross domestic product (GDP) in 2012, down from 14 percent in 2000, and 22 percent in 1990.

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

Poverty in agricultural households is three times higher than in other sectors.

The IFC works with private enterprises in more than 100 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 $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges.