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PIA Press Release

5 livelihood projects lined up for NAFC funding

by Rizalie Calibo

Siquijor (12 October) -- Pro-poor development programs will continue to be pushed by the Government consistent with its level of determination to fight poverty, Malacanang officials said.

In Siquijor province, five more livelihood projects are now lined for funding from the National Agriculture and Fishery Council (NAFC) special Project Division under its Livelihood Enhancement for Agriculture Development Program 2000.

Totaling some P684,000 and with 152 beneficiaries, this includes P100,000 each for swine and goat raising project for barangays Solangon, Tubod and Catulayan of San Juan, Siquijor and P192,000 each for the Rural Improvement Club of Lico-an Maria and the Goat Raisers Association of Siquijor Province (GRASP) in Helen Larena.

Evaluation and validation was conducted recently by NAFC representation Ken Ryan Eleazer with GRASP President Prisco Daug, Provincial Veterinarian Bernardita Tabada and staff of the office of the provicial agriculturist.

LEAD 2000 aims to provide additional new job opportunities and income of farmers, fishers and homemakers by supporting agri-fishery related projects.

It can be noted that the Administration is working, doubly hard to make the Philippine more competitive in doing business and sustain the confidence of the business community.

Government debt fell 1.9 percent at the end of July from June due to a stronger peso and credit repayments, the Bureau of Treasury said.

Total debt as of end-July was P3.924 trillion ($78.4 billion), down P75 billion from end-June. Fifty-five percent of the total debt was owed to local creditors and the balance to foreign lenders.

"The appreciation of the peso against the US dollar and the net repayments of foreign and domestic obligations in July contributed to the decline in debt," National Treasurer Omar Cruz said in a statement.

The Philippines aims to narrow its ratio of debt to gross domestic product to 62 percent next year and 56 percent in 2008 from an expected 68 percent this year. (PIA) [top]

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