DBM releases P50 million for farmers, fisherfolk businesses
MANILA, Philippines — The Department of Budget and Managed (DBM) on Monday said that it released P50 million to aid the businesses of farmers and fisherfolks.
According to the agency, DBM Chief Amenah Pangandaman had approved the Special Allotment Release Order and the Notice of Cash Allocation (NCA) for the P50 million, part of the 2023 General Appropriations Act.
“Food security will remain a government priority. Increased funding will be provided for the Department of Agriculture’s major programs. Alongside the development of land-based agri-industries, the government shall also spur the growth of aquaculture,” Pangandaman said in a statement.
The DBM explained that the release is in line with Republic Act 11321 or the Sagip Saka Act. The said law aims to improve food security by aiding fisherfolks and farmers.
In line with the law, the money will go to the Farmers and Fisherfolk Enterprise Development Program, which has three focus areas: Inclusive Agribusiness Development, Agripreneurship Capability Enhancement, and Enterprise Development Services.