RFI Receives USAID Grant

Roxas Foundation, Inc. (RFI), the social arm of listed Roxas Holdings, Inc., received last August 6 a grant from the United States Agency for International Development (USAID) for its project: “Turning A New Leaf: Threads and Weaving From Sugarcane”.

RFI, one of 12 new grantees of USAID’s $24-million Philippine-American Fund managed by the Gerry Roxas Foundation with SyCip Gorres Velayo & Co. as institutional partner. The project will be implemented from August 2015 to September 2017.

RFI President Bea O. Roxas signed the contract with USAID Mission Director for the Philippines Gloria Steele and Gerry Roxas Foundation Executive Director Rosamund Parado (as shown in the photo).

The grant will be used by RFI to help fund a pioneering technology that will extract fiber from sugarcane stalks and convert them into more useful thread and weaving textile. The textile can then be used to produce indigenous and earth-friendly materials that will help augment the income of the foundation’s communities in Batangas and Negros Occidental during farming off-season.