The investment of $12 million will be used to produce 32,000 metric tonnes of seed valued at $52.7 million, according to the Panama America daily.
The UN Food and Agriculture Organization reported that it will support the increase in agricultural production by poor families in more than 20 countries in Latin America and the Caribbean, by providing better access to basic goods.
Spain will provide funds for increasing basic grain production in Panama.
The money will be used to boost rice, beans and corn production.
Victor Pérez, agricultural development minister, told Pa-digital.com.pa: "The Food and Agriculture Organization will install its Central American offices in Panama. This means they will store in Panama all the seeds that will be distributed in Central America".
Over the next four years, the Social Investment Fund (FIS) will invest in 12.000 self sustainable farms and orchards.
This initiative is expected to benefit low-income communities.
Giacomo Tamburrelli, head of FIS, asked the Budget Committee of the Legislative for an additional $2 million for the project, adding that FIS has already organized most of the technical and financial aspects of the project.
Receive more news about Agronomy
Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.
METAGRO is a Guatemalan based manufacturer that provides high end solutions of agricultural transport equipment, we are focused on helping customers be more productive as they help to improve the quality of life for people around the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (502) 2383 2720 - (502) 5595 9953