The Development Bank of the Philippines (DBP) granted a P115-million term loan to install six solar-powered irrigation systems (SPIS) in Taraka, one of the largest municipalities in Lanao del Sur.
The SPIS will irrigate 1,200 hectares of agricultural lands and provide potable water to 26 barangays in Taraka, a fourth-class municipality with over 27,000 residents, according to DBP President and Chief Executive Officer Emmanuel G. Herbosa.
An SPIS is an automatic irrigation system running on solar energy that extracts water from deep wells or open sources and uses moisture sensors to regulate water flow to avoid flooding while promoting water conservation.
The water is delivered to irrigation channels or to a reservoir before eventually being distributed to the farms.
"DBP shall continue to play a crucial role in establishing viable irrigation systems to boost agricultural productivity in the area, in collaboration with the Mindanao Development Authority (MinDA)," he noted.
“Through this project, we can also bring clean and safe water to barangays that are not reached by existing water systems,” the president added.
The SPIS is a pioneer initiative under MinDA’s Water Program and an integral part of the flagship programs under the 2017-2022 Philippine Development Plan.
DBP serves as MinDA's financial advisor and partner for ventures to generate economic opportunities and employment in the Bangsamoro areas.
“DBP will continue to capitalize on the improved peace and order situation in Mindanao to provide more public infrastructure, social services, food security, and local industry development projects,” Herbosa pledged.
MinDA, a government agency created in 2010 via Republic Act No. 9996, facilitates inter-sectoral participation for the socio-economic development of Mindanao.