MANILA (Bernama-Xinhua): The Philippines' Department of Finance (DOF) and the World Bank (WB) have signed a loan agreement of US$600 million to fund a rural development project that will modernise agriculture and improve infrastructure, the finance department said on Monday.
The DOF said the loan agreement was signed on July 7 for the Philippine Rural Development Project (PRDP) Scale-up, which is geared towards transforming agriculture into a modernised and industrialised sector through public infrastructure interventions and strengthening the commodity value chain.
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