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The Ministry of Agriculture has partnered with DFC, La Inmaculada Credit Union and the Climate Resilient Sustainable Agriculture Project to implement a new project that will benefit thousands of farmers. Jomarie Lanza attended the signing ceremony today:

The Climate Resilient And Sustainable Agriculture Project designed to encourage farmers to incorporate climate smart technologies and techniques into their farming, has opened a doorway for grant opportunities within the industry.

16 Million USD has been earmarked for the project, through partnerships with DFC and La Inmaculada Credit Union.

Today an agreement was signed between the two financial institutions, and DFC says it's one of their biggest projects with the Ministry of Agriculture and CRESAP.

Henry Anderson, CEO, DFC
"The big one this has a grant component so as DFC we are lending to the farmers and then the CRESAP provides a grant to collaborate so what it does it de-risks the project for us and it allows the farmers to get the resources they need to make the investments that they require to transition to more climate smart agriculture you know to put in let's say drought resistant varieties or to get drainage to put irrigation and things that cost and typically they may not be able to afford but with the help of the grant they have the ability to get to it."

"The entire project I think is around 16 million dollars. The entire project is looking to reach 3800 beneficiaries not all of that will be DFC it is divided between the organizations and there is an initial allotment and based on how you go you do. I expect DFC to be somewhere around half of the entire project or maybe a little more."

The project contains provisions for both large and small scale farmers- where Small scale farmers are given a 60 by 40 deal, where the project will pay 60% of the investment and the farmer will contribute the other 40%.

For The large Commercial farmers and cooperatives they've been given a ratio of 70 to 30, where the project will provide up to 30% of the funding and the farmer will contribute the remaining 70%

Roberto Harrison, Project Coordinator, CRESAP
"The partnership with both institutions this morning is that we will be providing financing in terms of grants to farmers to invest in climate smart approaches and technologies. We are hoping that we can attract those farmers that want to invest first of all because there is a obligatory contribution by the farmers and by way of grant the project will be financing as well so there is two windows to the program."

"We are looking at farmers that are in production already we are not financing new programs. We are financing farmers that own an existing farm and an existing operation that want to add on climate smart technology or a climate smart approach."

Reporter
"What are some of those climate smart examples?"

Roberto Harrison, Project Coordinator, CRESAP
"Improved solar systems the use of varieties that are resistant to drought. We have solar systems solar pumps the use of bio fertilizers, inter cropping silver pastoral system in a combination of trees animals and the use of land. So there is quite a bit of technologies that are out there we are looking at 32 different commodities that the farmers can invest for example they have corn beans rice and soy bean , livestock we have cattle sheep goat chickens pigs and in vegetables there's all of the vegetables there, there are 15 of them so there's quite a broad range of opportunities where existing farming operations can benefit from."

And out of those 3700 beneficiaries 30% of them must be women.

Jose Mai, Minister of Agriculture
"We have to have a percentage of women in the project as beneficiaries. It caters for small farmers and big farmers that is how the project was conceived from the very first stage."

"So farmers more than anybody understand the importance of new technologies if you are going to survive as a farmer. We have seen that it can be changed and is having effects and the farmers know that very well so they are looking for the opportunity to change a technique, a change in technology with proper financing and proper education they will change I believe that they will."