THE Philippines expects to secure over $100 million in funding following its participation in the Food and Agriculture Organization’s (FAO) Hand-in-Hand Investment Forum in Rome, Agriculture Assistant Secretary Arnel de Mesa said.
The anticipated investments would exceed the $57.4 million in funding proposals the Philippines presented for five priority commodities: coffee, seaweed, mango, jackfruit and cocoa.
Speaking at the Tuesday Club Breakfast Forum in Mandaluyong, De Mesa said the Department of Agriculture held 12 bilateral meetings with international investors and development partners during the Oct. 13–16 event.
He cited interest from the Asian Development Bank and other development partners, but did not disclose any firm investment commitments.
Coffee and seaweed accounted for the largest funding proposals at $26.4 million and $24.8 million, respectively. The remaining pitches covered processing facilities, machinery and value-added products for mango, jackfruit and cocoa.
The proposed investments aim to raise farmers’ incomes, create rural jobs and strengthen resilience to climate-related risks.
De Mesa said coffee and seaweed drew the strongest interest and could account for more than half of the anticipated investments.
Philippine coffee served during the delegation’s presentations also helped promote the product to potential investors, he added.
Discussions extended beyond the five priority commodities to a broader portfolio of 27 Philippine agricultural export products. One company expressed interest in exploring that portfolio, although de Mesa did not identify the firm.
The FAO forum formed part of the World Food Forum, which promotes improvements in food and agricultural systems through youth participation, science, innovation and investment.
