Seems the government is currently having a fixation on upgrading things, from bridges down to banana chips.
A PHP237 million World Bank-funded initiative aims to revolutionize banana chips processing in three towns in Leyte, transforming small-scale farming into a sustainable and profitable industry.
The project, named the Eastern Visayas Banana Processing and Marketing Enterprise (EVBPME), will see the Omaganhan Farmers Agrarian Reform Cooperative (OFMPC) based in Tabango, Leyte, consolidate banana produce from 27 farmer clusters consisting of 679 members from Villaba, Tabango, and San Isidro.
According to the Department of Agriculture regional office, these farmers will supply raw cardaba bananas to a state-of-the-art processing facility in Villaba, which employs automated technology compliant with international food safety standards.
The EVBPME initiative is part of the Philippine Rural Development Project (PRDP), representing a significant milestone in strengthening the local banana industry and opening new avenues for rural livelihood development.
The project’s funding includes a P142 million loan from the World Bank, with the remaining amount shared by the Philippine government and OFMPC, reflecting a collaborative effort to boost agricultural value chains in the region.
Established in 1989 as a multipurpose savings and credit cooperative, OFMPC initially ventured into banana farming in 2013, overcoming challenges posed by typhoons and fluctuating markets to become a key regional player in agriculture.
The new processing facility is expected to create 107 jobs during its operational phase, with an additional 132 jobs generated through infrastructure development, providing much-needed employment opportunities in the area.
Beneficiaries are projected to see their incomes rise from PHP20,887 to PHP24,937 in the first year of operation, with an estimated average annual income increase of PHP64,020 over the next decade, according to DA estimates.
At the enterprise level, the project forecasts a net income of PHP30.4 million annually, supported by a robust return on investment of 24.42 percent, an internal rate of return of 18 percent, and a payback period of approximately 7.6 years.
This initiative is expected to significantly uplift the livelihood of smallholder farmers, promote sustainable agricultural practices, and strengthen the local economy of Leyte’s banana-producing communities.
By modernizing processing technology and expanding market access, the EVBPME project exemplifies how targeted investments can transform traditional farming into a viable and resilient industry that benefits both farmers and consumers alike.
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