The Taiwan Banker

After 35 years, the Ministry of Agriculture (MOA) has finally been elevated to full-fledged ministry status. In the face of climate change and the need for economic development, the MOA is tasked with protecting the rights of farmers and ensuring food security. Climate change is having an undeniable impact on agriculture, including extreme weather events and seasonal changes. The MOA will take proactive measures to help farmers adapt to the new reality, including using big data to provide data as a scientific basis in order to build resilience.Agricultural resilience through innovation It has been a difficult, 35-year journey. Looking back to May 20, 1988, there was a large-scale farmers’ protest, known as the “520 Farmers' Movement.” Agricultural organizations made seven demands, including the establishment of a Ministry of Agriculture. On the eve of May 20, 35 years later, the Legislative Yuan finally passed the third reading of the Organizational Law of the Ministry of Agriculture, stipulating that the ministry will be responsible for administration of 10 major areas: agriculture, forestry, fisheries, animal husbandry, and food, as well as the planning, development, management, and supervision of agricultural policies and regulations.The MOA has seven major directions: strengthening organizational function, improving the agricultural production and marketing environment and food safety, management animal and pet protection, rural construction and rural revitalization, sustainable use and development of agricultural resources, protection of native plants, and alignment of quarantine and prevention with international standards. According to the third reading of the provision, the eight sub-agencies of the MOA are the Agriculture and Food Agency, Fisheries Agency, Animal and Plant Health Inspection Agency, Forestry and Nature Conservation Agency, Agency of Rural Development and Soil and Water Conservation, the Department of Agricultural Water Resources, Agricultural Finance Agency, and Agricultural Technology Park Administration Center.In the future, the MOA will endeavor to implement climate change agricultural adaptation and net-zero emission policies, enhance rural planning and development, improve food safety reserves, promote popular education on agriculture, strengthen animal welfare and nature conservation, implement pet management, promote the digital transformation of agriculture, and improve the well-being of farmers.Perhaps the demands of the Farmer’s Movement will still not be met, but the MOA will respond to internal and external challenges, climate change, regional conflict, and other related trends to build a resilient agriculture industry for Taiwan’s sustainable development. Looking back at the evolution of agricultural finance from pure financial services to today’s comprehensive support, the upgrade of the Agricultural Finance Agency has significantly impacted agricultural production and demand, guaranteeing farmers’ operating returns and income, and strengthening the resilience of the industry.At the same time, financial support for agriculture, economic security, and financial literacy are also critical. Therefore, it will be important policy for the Agricultural Finance Agency to promote agricultural lending and enrich agricultural capital, strengthen agricultural insurance and stabilize farmers’ incomes, and improve the agricultural finance system and revitalize the rural economy. The Agency will assist in agricultural restructuring and upgrading, improve agricultural production and marketing, increase farmers’ income, ensure food safety, and further promote the sustainability of agriculture, creating a new era of sustainable agricultural finance.