Despite being an agricultural country,
Filipino farmers still face many challenges. According to the Food and
Agriculture Organization of the United Nations, the top challenges faced by our
small-scale farmers are lack of capital, low price of palay or unmilled rice, high cost of inputs, labor problems, lack
of postharvest facilities, pest and diseases, and poor irrigation systems[1].
AXA Philippines, one of the country’s
leading insurance providers, has partnered with Cropital, a financing and
marketing platform for smallholder farmers, to promote inclusive protection and
financial literacy. Cropital is a globally recognized organization that aims to
support Filipino farmers by helping provide them with a sure market for their
produce and giving them access to affordable capital through their
Sustainability Fund.
Through this partnership, AXA Philippines has committed to donate a minimum of Php 100,000 to Cropital’s Sustainability Fund, which can provide loan access and capital to farmers from Cropital’s partner communities. AXA Philippines will also be conducting a financial literacy and savings program for more long-term benefits for the partner farmers.
To date, Cropital has financed 2,276
farmers, supported 47,773 farmers, and registered 62,068 lenders. Their
initiatives not only help uplift our local farmers but also contribute to
increasing the country’s GDP and promote sustainability through encouraging
more Filipinos to buy local.
Aside from its donation to the
Sustainability Fund, AXA Philippines will also be encouraging its employees to help
raise funds by giving them the option to convert their rice allowance benefit and
use it to purchase rice from Cropital.
AXA Philippines CEO In-charge and Chief Financial
Officer Gael Lapie shared, “We have many hardworking farmers across the country
that, with the right guidance, can have the opportunity to further secure their
livelihood and improve their quality of life. Therefore, we support Cropital’s
noble cause to help our local farmers. Through supporting their products and
providing financial literacy initiatives, we hope to uplift and provide inclusive
protection to more and more Filipinos who are part of the vulnerable
population.”
Consumers interested in buying locally-sourced produce from Cropital can also visit their e-commerce website at https://store.cropital.com. To know more about AXA Philippines visit https://www.axa.com.ph.
[1] Arida, I. A. (2009). Problems in rice farming: a Filipino farmers' perspective. Philippine Journal of Crop Science (Philippines).
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