January 29, 2023

Recognizing the importance of educating farmers on financial literacy, the Ifugao State University (IFSU) signed a memorandum of agreement with the Landbank Countryside Development Foundation Incorporated (LCDFI) on March 10.
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 Hung-duan.
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 agri-preneurship 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 Eva Marie Codamon-Dugyon lauded the collaboration with LCDFI.
“One of our primary obligations 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,” she said.
LCDFI Executive Director Roy C. Oscillada stressed 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 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 endeavor. We cannot do this program on our own,” she added.
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 Mayor Casan P. Dumulag during the MOA signing. – Jude C. Baggo

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