MANILA – The Department of Agriculture (DA) is working to secure as much as USD 500 million in funding to accelerate the development of the country’s engineered bamboo industry by 2027.

Speaking during the opening of the Philippines Hand-in-Hand (HIH) National Investment Forum in Pasig City, DA spokesperson Assistant Secretary Arnel de Mesa said the agency is coordinating with international financial institutions to evaluate the project’s viability.

He noted that institutions such as the Asian Development Bank and other lenders have expressed willingness to support the initiative, citing strong investment potential in engineered bamboo.

The proposed financing package, estimated between USD 300 million and USD 500 million, will support the expansion of the local bamboo industry, including production, processing, and applications in construction and other high-value uses.

De Mesa highlighted the abundance of bamboo resources in the country, particularly giant bamboo, which can be used for reforestation, soil erosion control, and commercial manufacturing. He also pointed to Bukidnon as an emerging hub for engineered bamboo development.

According to the DA, the project remains in its conceptual stage, with a feasibility study expected to take five to six months. Full implementation could begin next year, pending loan approval and project readiness, with an overall timeline of about one year.

Globally, China remains the leading exporter of engineered bamboo products, underscoring the sector’s strong international demand.

Aside from bamboo, the DA is also exploring other investment areas such as livestock infrastructure, agricultural credit, insurance, and related support systems to further modernize the sector.

NPO News Team | Philippine News Agency - PR