In the improvisation of rural infrastructure and livelihood projects for farmers and fishermen in the Philippines, World Bank has granted the Philippines with $508.25 million of loan-and-grant package.
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| Image: PhilStar |
According to Inquirer, World Bank grants loan for Philippines to finance the implementation of the infrastructure and livelihood projects among farmers and fishermen.
Philippine Rural Development Project (PRDP) shall improve the productivity of farmers and fishermen tru projects like farm-to-market rods, water and irrigation systems, and other useful projects.
World Bank Country Director Motoo Konishi assured that with this grant package loan, people in the rural areas will create jobs, eradicate poverty, and promote prosperity.
It is estimated that the said loan amount will indirectly benefit 22 millions of Filipinos. The implementing agency to be under with PRDP projects will be the Department of Agriculture (DA).
The list of priority areas shall include:
- Tayabas Bay in Quezon
- Green Island Bay in Palawan
- Ticao Pass in Sorsogon and Masbate
- Guimaras
- Danajon Bank in Bohol
- Guiuan Coast in Eastern Sama
Source: Inquirer
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