Hungduan farmers benefit from financial literacy proj

Farmers in Hungduan, Ifugao are enjoying the free training on financial literacy from a banking institution in partnership with the Ifugao State University.
The Landbank Countryside Development Foundation, Inc. (LCDFI), a government-owned and controlled corporation and the corporate foundation of the Landbank of the Philippines, inked a memorandum of agreement with IFSU and the municipal government of Hungduan to implement the Financial Literacy Program to marginalized sectors.
Under the MOA, the IFSU provides resource persons to teach farmers on financing activities using the modules crafted by the LCDFI while the local government through its Municipal Agriculturist Office leads in the dissemination of the activity to farmers, micro farm-product processors, and possible target clients.
Marah Joy A. Nanglegan, director for Department of Extension and Training (DET), said that financial literacy is a step closer to economic security for farmers who have risky labor income. The program aims to help farmers produce more to earn more and how to grow and keep their savings.
“The training is localized and community-based. We aim to translate seemingly technical terms to words and activities relatable to intended beneficiaries who are farmers and small-scale agri products sellers and other workers in the food chain,” said Nemie Rex S. Guerzon, a faculty member of the College of Agriculture and Home Science.
Prior to being the trainor, Guerzon underwent training as a resource speaker of the Financial Literacy Program to community members. The training started on July 14 and is expected to end in October.
Krissa Clena Cabbigat, IFSU DET Program staff member, said that the training serves as an avenue to encourage community members to join a cooperative or organization.
The LCDFI will provide loans to eligible farmers who have undergone the training program.
There are 957 community members who have benefited from the training program that aims to reach out to 4,500 beneficiaries by the end of October. – Faith B. Napudo