Finance Secretary Ralph G. Recto has secured financing from the International Fund for Agricultural Development (IFAD) for a project that will help 86 agrarian reform communities in South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos City (SOCCSKSARGEN) and Cordillera Administrative Region (CAR) to fight poverty through value chain innovation and sustainable natural resource management.

“[T]he VISTA [Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities] project is a holistic and targeted poverty-fighting and sustainable development solution that takes into account the complex realities faced by our 86 agrarian reform communities,” he said in his remarks at the ceremonial exchange of the financing agreement on September 6, 2024.

The ceremonial exchange of the document was held between Secretary Recto and IFAD Country Director Umit Mansiz.

The VISTA Project aims to reduce rural poverty, strengthen livelihoods, and increase the resilience of targeted poor communities in vulnerable upland areas of the country by strengthening the inclusiveness of value chains and mainstreaming conservation and the sustainable use of natural resources.

It has three components namely: i) ecosystem planning, protection, and enhancement; ii) sustainable value chain development; and iii) project management.

This will benefit 52 and 34 Agrarian Reform Communities (ARCs) in the CAR and SOCCSKSARGEN, respectively.

The project has an estimated total cost of PHP 6.23 billion, of which PHP 4.69 billion (equivalent to EUR 78.62 million or USD 85 million) will be financed by the IFAD.

“Sa tulong ng proyektong ito, tayo po ay makakapaghatid ng mas maraming trabaho at negosyo, dagdag na kita, mas matibay na proteksyon laban sa climate change, at mas maginhawang buhay para sa ating mga kababayan sa SOCCSKSARGEN at Cordillera,” Secretary Recto said.

According to him, farmers for instance will benefit from sustainable farming practices, better post-harvest facilities, and improved farm-to-market roads that connect their goods to markets efficiently.

“We will also cultivate a new breed of entrepreneurs who will drive innovation in coffee and cacao production, processing, and marketing in the country. All these while maintaining the cultural integrity of the communities and preserving the natural ecosystem in the area,” the Finance Chief said.

He stressed that the project will not only transform the target communities but also help unlock their full potential as the country’s sustainable growth drivers and key pillars of national food security.

“This innovative and inclusive project reflects our vision for Bagong Pilipinas—a nation where every Filipino, especially our youth, women, and Indigenous people, has the opportunity to build better futures for themselves and contribute to our nation’s prosperity,” Secretary Recto said.

He expressed his confidence in the Department of Agrarian Reform (DAR), the Department of Agriculture (DA), the Department of the Interior and Local Government (DILG), and local government units (LGUs) in bringing the project to fruition and delivering on its promises to the communities.

“Through projects like VISTA, we move closer to our goal of lifting eight million more Filipinos out of poverty by the end of the President’s term,” he said.

“Over the next six years, VISTA will enhance rural resilience against environmental and economic challenges for approximately 350 thousand people in the uplands of Region Cordillera and Region XII,” IFAD Vice President Gerardine Mukeshimana said in a video message.

“It will support the priorities of the Philippine Development Plan to modernize agriculture and agribusiness to accelerate climate actions and strengthen disaster resilience, and to reduce vulnerabilities, and protect purchasing power,” she added.

“This project is in hard-to-reach areas. I think this is the best way that we make the most of the knowledge and capacities of the United Nations––it’s being in place and areas where people need this type of support,” United Nations (UN) Philippines Resident Coordinator Gustavo González said.

“We will not only help our farmers here, but this will pave the way for stability in the two regions. Do not worry, Secretary Recto and also IFAD, we will spend every centavo, every Euro, every Dollar, judiciously,” DAR Secretary Conrado Estrella III said.

The financing agreement for the VISTA project was signed by Secretary Recto and IFAD President Alvaro Lario on July 10, 2024 and made effective on the same date.

The event was also attended by DOF Undersecretaries Maria Luwalhati Dorotan Tiuseco and Joven Balbosa, and representatives from the National Economic and Development Authority (NEDA) and DAR.