World Bank allots 12 billion pesos for Mindanao rural development

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World Bank Allots 12-Billion Pesos for Mindanao Rural Development – www.philippineslifestyle.com

The World Bank has allotted 12-billion pesos for rural development projects in Mindanao under the the PRDP – or Philippine Rural Development Project.

The amount will be awarded by the World Bank to assist farmers who will develop commodities and provide farm-to-market roads.

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So far the World Bank has already approved 6.05-billion pesos to be released into Mindanao, the other 6-billion will follow soon after.

Sources say that most of the infrastructure will be in the form of farm-to-market roads and will be aimed at regions #9, #10, #11, #12, #13, as well as the Autonomous Region of Muslim Mindanao.

Today, the Autonomous Region of Muslim Mindanao is listed as the poorest region in the entire country (at 59%), with Caraga region coming in second place (at 43.9%).

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The World Bank previously signed an agreement with the Philippines on rural development – that program will last for 6 years, and is suppose to focus on establishing a modern climate-resilient agriculture and fisheries sector.

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