The SSNUP program supports Agronomika Finance corporation in the Philippines
The SSNUP program:
Coordinated by ADA, the SSNUP program aims to boost the productivity of smallholder farmers in Asia, Africa, and Latin America by improving risk management and developing sustainable agricultural value chains. Funded by Luxembourg, Switzerland, and Liechtenstein, the program aims to improve the living conditions and food security of more than 10 million smallholder farmers. The Grameen Crédit Agricole Foundation is one of the impact investors implementing the project.
A high-impact agricultural project in the Philippines:
Agriculture is a crucial part of the Philippine economy, employing 24 billion people and contributing 8.9 billion to GDP in 2022. Despite its importance, the sector faces significant challenges related to climate change and extreme weather events. This project aims to address these challenges by providing financial stability and support to smallholder farmers who grow crops such as eggplant, beans, okra, squash, carrots, cauliflower, cabbage, peppers, cucumbers, tomatoes, onions, and lettuce.
Agronomy, is a financial institution created by Kennemer in 2016, a partner of the Foundation, to facilitate access to financing for small producers. With a portfolio of 3.4 million euros, Agronomika serves more than 1,000 customers and offers products such as agricultural establishment loans and micro and small business loans. This new project will expand its reach and impact, focusing on the specific needs of smallholder farmers.
Agronomika received a grant from the SSNUP, which will establish a new loan product designed for smallholder farmers and provide training to ensure successful implementation. The project places a strong emphasis on the integration of women and aims for at least 80 % beneficiaries to be women.
By empowering smallholder farmers with better financial tools and knowledge, this project aims to improve their productivity, resilience, and overall livelihoods, thereby contributing to a more sustainable and inclusive agricultural sector in the Philippines.
