World Bank OKs $508-M fund for PH

Millions of farmers are expected to benefit from a new financing package approved by the World Bank that seeks to fund livelihood and infrastructure projects aimed at the agriculture sector. FILE PHOTO

Millions of farmers are expected to benefit from a new financing package approved by the World Bank that seeks to fund livelihood and infrastructure projects aimed at the agriculture sector.

The multilateral lender announced Friday that more than half a billion dollars in fresh cash would be made available to the Philippines in support of local agriculture.

Called the Philippine Rural Development Project (PRDP), the $508.25-million financial package aims to improve the productivity of small farmers and fisherfolk as well as their access to markets. The project will be implemented by the Department of Agriculture (DA).

More than 70 percent of total financing will be used for funding infrastructure projects of local government units. This will include farm-to-market roads, bridges, tire tracks, communal irrigation, potable water systems, post-harvest facilities, production facilities, fish landings, fish sanctuaries, storage facilities, trading posts, green houses, solar driers and slope stabilization works.

The geotagging tool, developed by the DA and currently being used to monitor agrofishery infrastructure projects, will provide online updates on the progress of PRDP-funded ventures.

The project will directly benefit close to two million farmers and fisherfolk, almost half of whom are women. PRDP will also indirectly benefit an estimated 22 million people, including 10 million women.

“We will work with local government units, the private sector and various stakeholders in coming up with provincial commodity investment plans and, in the process, providing key infrastructure, facilities, technology and information that will help improve production and raise incomes in the rural areas,” Agriculture Secretary Proceso Alcala said.

“The World Bank Group support will help the Department of Agriculture and the country achieve these goals,” he added.

The package includes a $7-million grant from the Global Environment Facility (GEF) for strengthening conservation and protection of selected coastal and marine protected areas.

Priority areas for conservation include Tayabas Bay in Quezon, Green Island Bay in Palawan, Ticao Pass in Sorsogon and Masbate, Guimaras, Danajon Bank in Bohol and Guiuan Coast in Eastern Samar.

The GEF is a collaboration of 183 countries working together with international institutions, civil society organizations and the private sector to address global environmental issues.

Despite rapid urbanization, 51 percent of Filipinos reside in rural areas and support half the labor force. Many of them—particularly farmers and fisherfolk—are poor, constrained by weak infrastructure for transport, particularly roads, port facilities, among others, and lack of post-harvest facilities, according to the World Bank.

“Given that a significant number of poor people are in the rural areas, successful implementation of this project could boost the country’s efforts to achieve growth that creates jobs,” World Bank Philippines Director Motoo Konishi said.