Metro Manila (CNN Philippines, December 23) — AgriNurture, Inc. (ANI) can now pursue its production of rice and corn in Davao.
The listed agribusiness firm of businessman Antonio Tiu on Thursday said it has already secured approval from the National Commission on Indigenous Peoples (NCIP) for its rice-corn project to be operational in the Unified Bagobo Tagabawa Tribe (UBTT) ancestral domain — particularly in Barangays Binaton and Goma in Digos City, Davao del Sur.
In February, ANI told the local bourse it inked a 25-year partnership with the Davao tribe to plant rice-corn in some 10,000 hectares of ancestral lands in the province. In exchange for the rights given over the lands, the tribe will receive annual royalty fees and an annual net profit share in the project.
Following the NCIP approval, the unified tribe urged the state-run Development Bank of the Philippines to provide an agricultural loan facility for the planting deal.
“We’re hopeful and expectant that [DBP] President [Emmanuel] Herbosa will fast-track the process since ANI has already complied with the bank’s loan requirements. President Duterte has instructed government financial institutions to provide funding support (by way of loans) to make these kinds of projects a reality,” UBTT said.
Once fully operational, the project is seen to create about 10,000 jobs.
