The Philippine government as represented by the DOF and the World Bank signed on July 7 a loan agreement worth $600 million, roughly P33.34 billion, for the Philippine Rural Development Project Scale-Up.
Central to the project's objectives is the facilitation of enhanced market access for farmers and fisherfolk, allowing them to reap the benefits of increased income from selected agri-fishery value chain, the DOF said. The government's thrust for a modernized agriculture and agribusiness sector is envisioned to spur social and economic transformation, as detailed in the Philippine Development Plan 2023-2028.
Amounting to $818 million or P45.01 billion in total, the remaining $218 million will be funded by the national government and involved local government units .
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Source: BusinessMirror - 🏆 19. / 59 Read more »