$280-M WB loan deal signed
July 29, 2021 | 12:31 am
THE World Bank (WB) and the Philippine government recently signed an agreement for the $280-million (P14-billion) additional financing for a rural development program that aims to boost farm and fishery production in selected provinces.
According to a World Bank document, Ndiame Diop, the bank’s country director for the Philippines, signed the loan agreement on July 16, while Finance Secretary Carlos G. Dominguez III affixed his signature on the deal on July 19.
Apart from the $280 million in additional financing for the Philippine Rural Development Project, the agreement also covers a grant worth €18.3 million (P1 billion) from the European Union (EU).
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