Despite the Philippines being an agricultural country, Filipino farmers still face many challenges. According to the Food and Agriculture Organization of the United Nations, the top challenges faced by our small-scale farmers are lack of capital, low price of palay or unmilled rice, high cost of inputs, labor problems, lack of postharvest facilities, pest and diseases, and poor irrigation systems.
Insurance provider AXA Philippines has partnered with financing and marketing platform Cropital to promote inclusive protection and financial literacy to farmers. Cropital is a globally recognized organization that aims to support Filipino farmers by helping provide them with a sure market for their produce and giving them access to affordable capital through their Sustainability Fund.
Through this partnership, AXA Philippines has committed to donate a minimum of P100,000 to Cropital’s Sustainability Fund, which can provide loan access and capital to farmers from Cropital’s partner communities.
AXA Philippines will also be conducting a financial literacy and savings program for more long-term benefits for the partner farmers.
Aside from its donation to the Sustainability Fund, AXA Philippines will also be encouraging its employees to help raise funds by giving them the option to convert their rice allowance benefit and use it to purchase rice from Cropital.
Consumers interested in buying locally sourced produce from Cropital can also visit their e-commerce website.