Well, the above Facebook sharing says the Bangko Sentral ng Pilipinas (BSP) and the Agricultural Credit Policy Council (ACPC) signed on Wednesday, 09 June 2021, a Memorandum of Understanding (MoU) for collaboration in credit research. ANN says (“DA-ACPC Signs MOU With BSP Research Academy”) (The ACPC is an agency of the Department of Agriculture, DA, hence sometimes written “DA-ACPC.”)
The Research Collaboration between DA-ACPC and BSP aims to broaden and develop further the two agencies’ intellectual and financial resources and provide an evidence-based approach for the parties’ program and policy formulation for sustainable agricultural credit services and programs, through various research studies on rural credit.
We must study credit. “Success produces success, just as money produces money” – Dean Acheson. Bur How? is the question. We need to study the How.
(image of “Success produces success…[1]” from Quotespictures.com)
Among those present during the MOU signing were BSP Governor Benjamin Diokno, DA OSEC Chief of Staff Leocadio Sebastianrepresenting Secretary of Agriculture & ex-officio ACPC Chair William Dar, BSP Deputy Governor Cyd Tuaño-Amador, BSP Research Academy Head Veronica Bayangos, Monetary Board Member & ACPC Vice Chair Bruce Tolentino, and ACPC Executive Director Jocelyn Alma R. Badiola.
Previous to this, Mr Tolentino had emphasized the value of investment and credit for the aggie sector during the National Food Security Summit (NFSS) held 18-19 May 2021. On the first day of the NFSS, he “presented his insights on the financial and credit policies in agriculture and fisheries.
The ACPC spearheaded the conduct of the “Agribusiness Pitch Challenge,” one of the competitions featured during the “1st Youth in Agriculture Summit” (31 March 2021). This was to encourage the youth to engage in agriculture, fishery and agribusiness ventures and thereby become “yaggies[2].”
In the meantime, the ACPC continues to strengthen its digitalization process while implementing its various credit programs. Says Miss Badiola, “We are recognizing that digital financing is the way forward[3]” (10 June 2021, “DA-ACPC Intensifies Efforts To Accelerate Digitalization In Agri-Fishery Finance,” ACPC.gov.ph). Thus the ACPC has partnered with:
(1) Digital finance & services company PayMaya, for the financial disbursement platform for the Kapital Access for Young Agripreneurs (KAYA) Loan Program.
(2) IoT Technology for the AgriKonek app, “an online marketplace and inventory tool that aims to empower farmers and fishers.”
And the ACPC Dashboard– The ACPC Information Systems Management Division has launched the Program Accomplishment Dashboard by which the public can access up-to-date accomplishment reports on ACPC programs. The ACPC describes it thus:
The interactive dashboard… available on the website acpc.gov.ph, provides a live snapshot of program performance across various dimensions using a set of more impactful graphs, charts, and other metrics and visuals designed to be the most helpful in analyzing program progress and accomplishments.
If this is not transparency in public service, I don’t know what is!@517
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