Entrepreneur and former banker Francis Yuseco, the untiring businessman behind the planned Farm to Market Digital Logistics Integrated Backbone (FM DLIB) project, has advanced a proposal creating a seamless digital and physical connection across Luzon, the Visayas, and Mindanao.
The initiative, already seen and initially evaluated by Agriculture Secretary Francisco P. Tiu Laurel, seeks to address the longstanding issues arising from an existing inefficient market structure that has allowed layers of middlemen—ranging from millers to illegal smugglers—to dominate the supply chain.
This complexity, Yuseco said, has resulted in alarming markups exceeding 1,000 percent between farm prices and urban market rates, perpetuating poverty among farmers and fisherfolk.
The urgency of the project, according to Yuseco, has garnered the attention of the government.
In February 2024, the Office of the President officially endorsed the Farm Market Backbone to Transport Secretary Jaime J. Bautista. Subsequently, Secretary Bautista, with the backing of agri chief Tiu Laurel, recommended the initiative for evaluation by Executive Director Cynthia C. Hernandez in March this year.
The Farm Market Backbone is backed by West Coast Equity Builder LLC, a US-registered private equity fund, which aims to ensure the safety and transparency of its investments in this and other humanitarian projects across the Philippines, including regional airports, seaports, hospitals, and schools, Yuseco said.
The Land Bank of the Philippines (LBP) is also involved, offering the Swift Global Payment Innovation service to facilitate real-time tracking of offshore funds, he added.
As project proponent, Yuseco expressed optimism that once operational, the Farm Market Backbone will fundamentally transform the agricultural landscape of the Philippines, benefiting farmers and consumers alike and fostering economic development.
Yuseco has asked to meet with Malacanang and relevant policymakers to further discuss these critical developments and ensure the project’s successful implementation.
