The biggest of the agreements is $750 million for the Philippines First Sustainable Recovery Development Policy Loan (DPL) that will support the country’s policy reforms that target environmental protection and climate resilience.
The Philippines on Monday inked $1.14-billion worth of loan agreements with the World Bank, set to finance government initiatives on economic recovery and developing the agriculture and fisheries sectors, among others.
Also included is $276 million for two projects of the Department of Agriculture's Bureau of Fisheries and Aquatic Resources — the Mindanao Inclusive Agriculture Development Project , and the Philippine Fisheries and Coastal Resiliency Project . Meanwhile, the FishCoRe seeks to enhance the ecosystem and community resilience in select fisheries management areas and the value of fisheries production in coastal communities, and improve the management of resources.
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