(Part IV of the “Steakhood Movement” Series)

A tty. Ding Bagasao is strongly pushing an initiative to get Overseas Filipinos to invest in a “dairy-cow program” (DCP). He is the chairman of the Economic Resource Center for Overseas-Filipino Workers (OFWs).This is tantamount to a blanket endorsement of the “Steakhood Movement,” which this author has described as the ultimate solution for the economic ailments of the Philippines.

According to Atty. Bagasao, the DCP includes a memorandum of agreement between the OFW investor, dairy farmers and a dairy processor, who will buy all the milk and sell the processed product to coffee shops in Manila.

He cited the case of 10 OFW investors who are working in six different countries. They invested a total of P700,000 for dairy-cow farming in the town of Talavera, Nueva Ecija. Atty. Bagasao added that nationwide implementation of this program is a possibility.

Atty. Bagasao said also that work must be done to prime the economy in the countryside with OFW support.

“Two-thirds of OFWs come from the countryside, [so] we’ve lined up certain programs like reliable micro-financing institutions,” he said. Atty. Bagasao cited the emerging partnerships being arranged by the Rural Banking Association of the Philippines with 15 rural banks with reputable track records.

Atty. Bagasao was this writer’s classmate at the Ateneo de Manila College of Law. They both belong to the AdMCL’s Class of 1970. Now, people should not wonder how Atty. Bagasao and this writer arrived at a cattle-based solution for the economic problems of the homeland. Both have been mentored by steak-loving Jesuit priests from the United States.

To read the previous three articles about the “Steakhood Movement,” please click on these hyperlink:

Steakhood Is Better than Statehood

Steakhood Movement (Part Two)

U.S. Marines Follow Advice Given in “Steakhood Movement” Article # # #