Filipino farmers have experienced a notable increase in their income, thanks to projects funded by the World Bank under the Philippine Rural Development Project (PRDP).
The country has received praise for its handling of the $600 million loan project, achieving a satisfactory rating on its implementation.
In an interview, Mio Takada, the World Bank Task Team Leader, expressed satisfaction with the Department of Agriculture's (DA) performance in implementing the PRDP.
Takada highlighted the project's success, citing the significant commitment from farmers, enterprises, and local government units, particularly in Mindanao and the Visayas regions.
The $600 million World Bank loan, initiated in 2014 and scheduled to conclude on July 31, 2025, has already yielded promising results.
Takada revealed that farmers' incomes have surged by nearly 20 percent, with some witnessing a doubling of their market value.
Attributing the success to the DA's efforts in linking agricultural commodities to markets and increasing the market value of farm products, Takada emphasized the need for greater private sector participation, a recommendation put forth by the World Bank.
U-Nichols Manalo, Agriculture Assistant Secretary for Operations, welcomed the positive assessment during the 17th mission and the second PRDP scale-up mission.
He underscored the significance of PRDP projects, which encompass infrastructure subprojects and farm-to-market roads aimed at enhancing access to key agricultural production areas.
Photo Credits to : MindaNews
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