Viral Portal News: P12B

World Bank allots P12-B for Mindanao rural development

Unknown 9:37 AM allots , Bank , development , Mindanao , P12B , rural , world

<ul><li style="text-align: justify;">The World Bank has allotted P12-billion as funds for rural development projects in Mindanao</li> <li style="text-align: justify;">The budget is covered by a loan agreement between the Philippines and the World Bank</li> <li style="text-align: justify;">The fund will be used to assist farmers in developing commodities and providing farm-to-market roads</li> </ul>The World Bank has allotted the amount of P12 billion for rural development projects in Mindanao in line with the institution’s Philippine Rural Development Project (PRDP). In an article written by Antonio L. Colina IV for <a href="http://www.mindanews.com/top-stories/2016/04/09/mindanao-gets-p12-b-for-rural-development-projects/">MindaNews</a> on April 9, 2016, it was disclosed that the budget which will be awarded by the international financial organization is meant to assist farmers by developing commodities and providing farm-to-market roads. According to Engr. Arnel de Mesa, national deputy director of the PRDP, the amount of P6.05 billion was already approved by World Bank while the remaining P6 billion will follow soon. “Most of the infrastructure projects are farm-to-market roads,” he said; noting that regions 9, 10, 11, 12, 13 and the Autonomous Region for Muslim Mindanao (ARMM) were listed as the beneficiaries. De Mesa also added that the PRDP is closely working with the Department of Agriculture (DA) in determining which projects requires financial assistance from the World Bank. At present, the ARMM is ranked as the poorest region in the entire archipelago during the 1st Semester Poverty Incidence Among Population survey; having a poverty incidence rate of 59 percent, followed by the Caraga region which posted 43.9 percent. “We will undergo value chain analysis study to determine who are the players, what are the stakeholder gaps and constraints impeding the development of the commodity; and what are the issues. When these gaps, constraints, and issues are identified, then it will now be the basis for a province or city to craft a Provincial or City Commodity Investment Plan that details the interventions or activities to address them,” De Mesa said. The PRDP is currently covered by loan agreement which the Philippines previously signed with the World Bank. The program will last for six years; focusing on establishing a “modern, value chain oriented, and climate-resilient agriculture and fisheries sector.“ <a href="http://kickerdaily.com/world-bank-allots-p12-b-for-mindanao-rural-development/" rel="nofollow">Kicker Daily News</a>

The World Bank has allotted P12-billion as funds for rural development projects in Mindanao The budget is covered by a loan agreement betwee...