DA’s P44B loan from Israel to be endorsed to Duterte
Agriculture Secretary Emmanuel Piñol said a Malacañang organized inter-agency group has already endorsed the proposal of the Department of Agriculture (DA) to build 6,200 units of Solar-Powered Irrigation Systems (SPIS) all over the country to be funded by an Israeli loan of P44 billion payable in 10 years.
“It marked the first major positive breakthrough in the program of the DA to adopt the Israeli technology on Solar Irrigation and Fertigation which transformed the desert nation into a top agricultural producer in the world,” Piñol said.
Backed by Israeli government, Israeli company, LR Group, offered to implement the SPIS project using a technology which they said will increase rice production by at least 50 percent more of the current yield per hectare.
Piñol said that last week, representatives of the National Economic Development Authority (NEDA), Department of Finance, Department of Budget and Management, National Irrigation Administration and the Presidential Management Staff gathered in the DA office as it presented the SPIS proposal and its benefits to the country’s food security program, especially rice production.
The NEDA representative then asked the proposal be prepared and submitted at the soonest possible so that it could be forwarded to the next level.
“The agencies will meet after the Holy Week to draft the National Irrigation Master Plan to complement the existing program of NIA. The agencies will then present the proposal to the NEDA which will submit it for review and approval of the NEDA-ICC,” Piñol said.