Farmers and agri-businesses may now access faster financing through the capital market under a new Securities and Exchange Commission (SEC) program that seeks to modernize and expand the country’s agriculture sector.

The regulator said Thursday that SEC FARMS (Securing & Expanding Capital for Farms & Agri-business Related Modernization Schemes) was enacted on 24 September to support farm clustering, modernization, and industrialization, thereby strengthening the agriculture sector.

Enacted under SEC Memorandum Circular No. 8, Series of 2023, the program streamlines the registration process for securities of agri-businesses, allowing firms to raise up to P500 million per project.

Registration statements are reviewed within 28 days, under the Commission’s guidelines.

“We know that agriculture is the backbone of our economy, it feeds our people and sustains millions of families. Yet farmers and agri-businesses have often been left with little water to grow, the water here being capital or financing,” SEC Chairperson Francis Lim said.

Lim described SEC FARMS as a more efficient set of farming tools that could help farmers increase yields, benefiting not only their families but the nation.

He added that while the program is just getting started, broader participation could make Philippine agriculture more productive, competitive, and sustainable.

“SEC FARMS is our way of irrigating that field, making sure resources reach those who need them most so you can modernize, expand, and thrive,” he said.