The ADB said this loan was supportive of the rice tariffication law, which liberalized rice trade and slashed prices while providing a yearly fund from the collection of import duties on rice to modernize the farm sector.
“The government is also initiating additional reforms in land and water resources … Other reforms supported by the loan include additional assistance to farmers making the transition toward higher value crops and those affected by the COVID-19 pandemic. These include unconditional cash grants and the expanded survival and recovery assistance program for rice farmers to provide zero-interest loans to more than 160,000 small farmers.
It said the loan would be complemented by upcoming investments to enhance flood risk management in major river basins, improve irrigation efficiency and promote agro-enterprise development. The ADB noted that while the agriculture sector accounted for about 25 percent of total employment in the Philippines, it “lags behind its counterparts in Southeast Asia in productivity growth and competitiveness.”
“Poverty rates in rural Philippines remain high, as do child malnutrition and stunting. The government has identified agriculture as a priority area for reform under its COVID-19 pandemic economic recovery program, as it seeks to ensure food security and reduce poverty in the country,” it said.
bendeveraINQ Kuba na kaming mga TAX payers kababayad ng taxes.
bendeveraINQ Utang ina naman.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN Philippines - 🏆 13. / 63 Read more »
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Source: ANCALERTS - 🏆 26. / 50 Read more »
Source: ABSCBNNews - 🏆 5. / 83 Read more »
Source: manilabulletin - 🏆 25. / 51 Read more »
Source: ABSCBNNews - 🏆 5. / 83 Read more »