The Department of Budget and Management (DBM) approved the release of a Special Allotment Release Order (SARO) and the Notice of Cash Allocation (NCA) in the amount of P50 million to the Department of Agriculture.

In a statement, DBM said the fund is allocated for the implementation of the Farmers and Fisherfolk Enterprise Development Program under Republic Act 11321  (Sagip Saka Act), funded under the FY 2023 General Appropriations Act (GAA).

DBM Secretary Amenah Pangandaman underscored the long-term aims of the administration of President Ferdinand R. Marcos Jr.'s 8-Point Socioeconomic Agenda in line with its Philippine Development Plan 2022-2028.

"Food security will remain a government priority. Increased funding will be provided for the Department of Agriculture's major programs… Alongside the development of land-based agri-industries, the government shall also spur the growth of aquaculture," Secretary Pangandaman said.

The Sagip Saka law directed the DA to pursue a complete approach in enterprise development initiatives to further strengthen an entrepreneurship culture among farmers and fisherfolk.

The initiatives led to the formation of the Farmers and Fisherfolk Enterprise Development Program.

The program has three focus areas with corresponding desired outcomes: Inclusive Agribusiness Development to help farmers and fisherfolk become viable business partners with agro-industry players; Agripreneurship Capability Enhancement which aims to improve access to capacity-enhancing support services in, for instance, finance, training, technology; and Enterprise Development Services to strengthen the agri-fishery enterprise development services of the DA.