DA targets $2 billion foreign funding for infrastructure projectsAgriculture Assistant Secretary and spokesman Arnel de Mesa said the department is inching closer to securing its single largest foreign-assisted project from the World Bank valued at $1 billion. MANILA, Philippines — The Department of Agriculture (DA) is looking at securing at least $2 billion (about P118 billion) in foreign financing next year, including its single largest project loan, to bankroll its various infrastructure programs and projects aimed at improving domestic productivity and enhancing farmers’ welfare. “These funds would be used for the priority projects of the President and the (Agriculture) Secretary, which are mostly for agriculture infrastructure projects,” De Mesa said in a press briefing yesterday. The loan facility has been approved by the National Economic and Development Authority Investment Coordination Committee, for review by the NEDA Board chaired by President Marcos. The ADB would also provide a $140-million grant for the preparation of the DA’s various infrastructure projects that involve ports, wide-scale irrigation projects and aquaculture projects, De Mesa said.

Source: Philippine Star November 26, 2024 09:34 UTC