I would like to express my deep gratitude to the member institutions of the Asia-Pacific Rural and Agricultural Credit Association (APRACA). It is indeed an honor to serve as the Vice Chairman of APRACA, and I extend my heartfelt thanks to all our members for their invaluable collaboration in advancing sustainable rural and agricultural development.
Today, agriculture plays a critical role in global food security by providing a sufficient food supply for the world’s po pulation. However, the challenges facing the agricultural sector extend beyond the need for improved production techniques. Modern agriculture grapples with unpredictable weather patterns, labor shortages, water scarcity, and price volatility, all of which render traditional farming practices insufficient to meet contemporary demands. Farmers today must adapt within the constraints imposed by these challenges to enhance their productivity.
Since its establishment, APRACA has played a pivotal role in promoting cooperation among its members, leading to significant contributions to the development of agricultural and rural sectors in the Asia-Pacific region. This has been accomplished through knowledge sharing, collaborative efforts, and the formulation of robust strategies aimed at achieving long-term prosperity.
In the realm of financial institutions within the agricultural and rural sector, it is crucial to recognize that their role goes beyond simply providing financial resources. APRACA must also take on the responsibility of initiating a paradigm shift in our countries, raising awareness about the challenges posed by climate change and the critical role of reducing greenhouse gas emissions, which will undoubtedly impact the agricultural sector in the near future. Therefore, APRACA’s mission should extend beyond financial support and encompass a concerted effort to advance the knowledge and capabilities of farmers. Furthermore, fostering collaboration that evolves into trading among farmers in our region will serve as a tangible demonstration of the outcomes achieved through the cooperative efforts of APRACA members.
In our pursuit of these advancements, APRACA should position itself as the “Hub of Agricultural Support,” dedicated to fostering sustainable development, cooperation, and a renewed sense of pride in our agricultural heritage. We eagerly anticipate constructive communication, wide-ranging knowledge dissemination, and a strong emphasis on collaboration and collective action. Our aspiration is for APRACA to become a significant contributor to long-term success, the improvement of livelihoods, and the prosperity of agricultural communities, all while nurturing a shared sense of pride in our collective achievements. The Bank for Agriculture and Agricultural Cooperatives (BAAC) is committed to sharing its best practices and learning from the valuable knowledge within our membership to further these goals.
President of Bank for Agriculture and Agricultural Cooperatives
Vice Chairman of APRACA