ASF – Asian Swine Fund Of P500 Million From PH ACPC
"Pigs are smart little creatures. They just need love" said Shelley Duvall, American actress famous for playing eccentric roles. In PH, much needed love comes now in the form of a new ASF (Asian Swine Fund, my coinage) – commercially needed considering the threat of the old ASF (Asian Swine Fever).
(pig image[1] from eCompareMo)
On Saturday, 12 June 2021, observed as “Philippine Independence Day,” the Agricultural Credit Policy Council (ACPC) independently brought out much love for the little creatures recently beleaguered and still threatened with the original ASF (Asian Swine Fever): “ACPC Allots P500M To Revive Hog Industry[2]” (Leander C Domingo, Manila Times). I note that the ACPC released quite a big fund for a single animal: Action (with amount) speaks louder than words!
Domingo said the ACPC “has allotted initial funding of P500,000,000 (million) for swine projects of small enterprises, including start-up commercial hog raisers.” Note that it said, “initial funding.” There’s more where that came from.
The good news was announced in Ilagan City in Isabela in Northern Luzon, during the rollout of the “Swine R3 Credit Program” (Swine R3) hosted by Isabela Governor Rodolfo Albano III. Swine R3 is a partnership of the DA (via the ACPC), Development Bank of the Philippines (DBP), and Charoen Pokphand Foods (CPF) Philippines. Charoen Pokphand is based in Thailand, which is why I call it the Asian Swine Fund.
Secretary of Agriculture William Dar led the launching of the funding program, with Emmanuel Herbosa, President & Chief Executive Officer of DBP, in attendance. The DBP is one of the Partner Lending Conduits (PLCs) of ACPC. Mr Herbosa said during the occasion that by itself DBP had allotted about P12,000,000,000 (billion) in loans for commercial hog raisers.
All the world loves pork!
The Swine R3 program is DBP’s newest loan facility. “R3” refers to Repopulation, Rehabilitation and Recovery, “to ensure the continuous supply and availability of swine and pork products, and to stabilize pork prices in the country.” Healthy animals, healthy industry.
Mr Herbosa said:
Under the (Swine R3 Program), DBP will provide funding assistance to eligible public and private institutions to establish bio-secured swine farm products. With concerted efforts, we will be able to grow a local swine industry so that we can better meet consumer demand and we can achieve more stable pork prices in the Philippine market.
He was also thinking of swine diseases. He said, "We are collaborating with CPF to ensure the viability of implementing biosecurity measures to further assist eligible swine investor-partners,"
Mr Herbosa noted that “for the public sector, DBP can provide the financing for the establishment of consolidated swine facilities so local government units can consolidate backyard hog raisers in their municipalities and provinces.” Consolidated swine facilities for better business.
Ah, but the Swine R3 program does not say it is at the expense of Philippine native pigs. I say, the native pigs are millions of pesos cheaper to produce, and their meats taste millions nicer. I hope the ACPC will come up with a separate funding soon!@517
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