The town of Taraka, Lanao del Sur, one of the oldest and poorest in the province, will soon become a model in rural development as it builds and acquires Solar-Powered Irrigation Systems, a Potable Water Supply Project farm machinery and infrastructure equipment.
Assisted by the Mindanao Development Authority (MinDA) which selected the town as its model for a well-planned rural development program, Taraka has accessed a P215-M loan from the Development Bank of the Philippines which was recently approved.
The loan which is guaranteed by Taraka’s Internal Revenue Allocation (IRA) will cover the construction of at least 6 units of Solar-Powered Irrigation Systems to serve an estimated 1,000-hectares of rice farms, a Solar-Powered Potable Water Supply System, farm machinery and other infrastructure equipment.
MinDA will assist Taraka in establishing its Economic Enterprise Office which will manage the projects and collect revenues to pay back the loan in 10 to 15 years.
MinDA has also extended financial support to the town for the establishment of a 5-hectare model farm which will house a goat and free-range chicken multiplier farm.
Funds were also provided to set up egg production projects in each of the village in the town, a duck raising project and fish cage farming in Lake Lanao.
Even as the town faced the problems caused by the COVID 19 Pandemic, the construction of the facilities for the model farm and the processing of the DBP loan continued.
When fully operational, Taraka is expected to become a major rice production area in Lanao del Sur complete with Rice Processing Facilities and a model for rural development in the province.
As soon as the travel restrictions are lifted, DBP President Emmanuel Herbosa is expected to sign the loan agreement with Taraka town officials led by Mayor Nashiba Sumagayan.
(Attached video was prepared after the field trip for Taraka officials and farmer leaders to different model farms in Mindanao arranged by the Mindanao Development Authority.)
https://www.facebook.com/MinDAgovphOfficial/videos/2287896191511024
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