IFSU, LBP Foundation ink MOA on farmers financial literacy
Recognizing the importance of educating farmers on financial literacy, the Ifugao State University (IFSU) signed a Memorandum of Agreement (MOA) with the Landbank Countryside Development Foundation Incorporated (LCDFI) on March 10, 2020 at IFSU.
Based on MOA, LCDFI shall provide funds while IFSU shall extend its technical expertise for the series of financial literacy activities to be conducted in the municipality of Hungduan, Ifugao. Hungduan is one of the 218 unbanked municipalities identified by Landbank.
The Financial Literacy Program of the LDCFI provides an enabling environment for farmers to be taught practical and prudent methods of managing finances and income; understand the value chain of their crops and its impacts to their income; develop agripreneurship among farmers and fishers; and impact the importance of crop insurance in risk mitigation.
Both parties agreed and committed to deliver these objectives of the Financial Literacy Program for the Hungduan farmers.
IFSU President, Dr. Eva Marie Codamon-Dugyon lauded the collaboration with LCDFI. “One of our primary obligation as the lone Higher Education Institution in the province is to extend programs and services to our communities and other stakeholders to improve their economic conditions,” remarked University President Dugyon.
She added that, “IFSU is honoured and privileged to this partnership. Aside from students and other stakeholders, farmers are at the center of our extension and training programs and services. With this partnership, it will help us to sustain our community engagements. ”
On his part, Roy C. Oscillada, Executive Director of LCDFI highlighted the need for financial literacy to break the systemic barriers faced by farmers. “With our program and partnership with IFSU, we hope that farmer-beneficiaries will have improved and bankable income, and become entrepreneurs in their communities.” He added that with the program, farmers will be able to maximize limited resources, manage risk and become more productive.
LCDFI Chairperson Consuelo N. Padilla also recognized the need for partnership to alleviate the conditions of farmers. “In this pioneering program of LCDFI, we are interconnected in this endeavour. We cannot do this program on our own,” she added.
Meanwhile, the host community of Hungduan welcomed the financial literacy program. “It is our hope that it will benefit farmers and have impacts in their economic conditions,” said Marina Atolba who represented Municipal Mayor Casan P. Dumulag.
As IFSU turns 100, the University recognizes and values the continuing partnership with the Landbank of the Philippines. In the past, Landbank provided financial support to the construction of some IFSU infrastructures such as the dormitory, commercial center, and IFSU Cooperative. //by:Jude C. Baggo