World Bank approves PHL agri tech assistance worth $24.5M

THE World Bank said it approved $24.5 million in technical assistance for sustainable agriculture transformation in the Philippines.

In an advisory, the bank said the project was approved on April 23.

The project aims to “strengthen institutional capacity and systems for climate-smart agriculture, repurposing fertilizer subsidy programs, diversification, and increased export development and growth as envisioned by Philippine Sustainable Agriculture Transformation.”

The project will have four components, including improving efficiency of rice-based farming systems and enhancing climate resilience ($8 million) and enhancing crop diversification and regional export through intensification of high-value cropping ($8.5 million).

The other two components were institutional strengthening in support of the Agrifood Transformation agenda ($2.5 million) and project management, monitoring, evaluation and learning ($5.5 million).

Of the total commitment, $14.50 million will come from the Food Systems 2030 Umbrella Program, while the remaining $10 million will be provided by the International Bank for Reconstruction and Development Fund for Innovative Global Public Goods Solutions.

The project will be implemented by the Department of Agriculture, with a closing date set for Dec. 31, 2030. — Justine Irish D. Tabile