USDA ANNOUNCES $16.5 MILLION AVAILABLE TO FUND RISK MANAGEMENT INITIATIVES

Shirley Pugh 202-690-0437

WASHINGTON, May 28, 2004 – The U.S. Department of Agriculture’s Risk Management Agency Administrator Ross Davidson today announced the availability of approximately $16.5 million in funds for partnership opportunities to conduct targeted research, education and outreach projects. Applicants have until July 8 to apply for the funds.

“These projects will identify and develop new risk management tools and strategies, provide educational opportunities to underserved agricultural producers, and seek to mitigate the risk inherent in agricultural production,” said Davidson.

Funding for these projects is available under the Federal Crop Insurance Act (Act) provisions for partnerships for risk management development and implementation for:

Under Section 522(d) of the Federal Crop Insurance Act (Act), funds are available for:

• Research and Development. The purpose of the risk management Research Partnerships is to fund the development of non-insurance risk management tools that will be utilized by agricultural producers to assist them in mitigating the risks inherent in agricultural production. The proposals must address at least one of seven objectives including: the development of risk management tools to reduce the impact of multiple-year losses; assist forage, rangeland and livestock producers; assist limited resource and traditionally underserved farmers and ranchers with limited English language proficiency; assist producers in clarifying and complying with labor requirements; and to further increase the economic and production stability of wild salmon fishermen. Total funding for projects in this category is approximately $4 million.
• Community Outreach. Priority will be provided for outreach and assistance to women, limited resource and socially disadvantaged producers. Funding for projects in this category is approximately $4 million.
• Commodity Partnerships for Risk Management Education. Selected projects will provide risk management training for producers of crops that are not covered by crop insurance, specialty crops and underserved commodities. Total funding for projects in this category is approximately $4 million.

Under education assistance provisions of the Act, funds are available for:

• Crop Insurance Education in Targeted States. Award recipients will provide crop insurance education and information programs to producers in fifteen states designated as underserved. Total funding for projects in this category is $4.5 million.

The request for applications was published in the Federal Register on Monday, May 24, 2004. Applicants have 45 days from the date of publication (until July 8, 2004) to apply.

USDA’s Risk Management Agency’s (RMA) mission is to promote, support and regulate sound risk management solutions to preserve and strengthen the economic stability of America's agricultural producers. Detailed information about program requirements and information on how and where to apply is included in the Federal Register notice of funding availability. RMA will have substantial involvement in any project awarded.