The country has secured more than $1 billion in official development assistance (ODA) financing for the development of the agriculture
DOF Secretary Benjamin Diokno also said among the ODA financing was the $500 million loan agreement of the Philippines with the Asian Development Bank for the Competitive and Inclusive Agriculture Development Program , which aims to increase the competitiveness and inclusiveness of the agriculture sector.
The first loan deal with the WB was the Mindanao Inclusive Agriculture Development Project , which aims to sustainably increase the agricultural productivity, resiliency, and accessibility to markets and services of organized farmers and fisherfolks in selected ancestral domains and for selected value chains in Mindanao, the official, quoted by reports, said.
The finance chief said these projects are guided by the Philippine Development Plan 2023-2028, which is a plan to reinvigorate job creation and accelerate poverty reduction by steering the economy back on a high-growth path.
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