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PH signs a $600-M loan deal with World Bank for agri modernization

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The Department of Finance has signed a $600-million loan agreement with World Bank for the modernization and industrialization of the agricultural sector, said Malacañang on Monday.

Dubbed the Philippine Rural Development Project Scale-Up, DOF signed the deal with WB on July 7.

“The Government of the Philippines, through the Department of Finance and the World Bank, signed a US$600-million loan agreement on July 7, 2023, for the Philippine Rural Development Project Scale-Up, which is geared towards transforming agriculture into a modernized and industrialized sector through public infrastructure interventions and strengthening the commodity value chain,” said Palace in a joint statement with DOF.

 

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