World Bank invests P629 million in Mindanao

The World Bank has so far invested some 629 million pesos for the development of enterprises in the agriculture sector on the southern island of Mindanao.

Through the World Bank-assisted Philippine Rural Development Project of the Department of Agriculture, the Mindanao cluster’s enterprise development component now covers a total of 108 approved sub-projects worth 628.6 million pesos.

The Investment in Rural Enterprise and Agriculture and Fisheries Productivity component of the project provides support and various interventions to different proponent groups or eligible cooperatives from targeted project areas based on commodity investment plans for each province.

PRDP also provides input provisions and infrastructure support through the establishment of warehouses, solar and mechanical dryers, fermenting facilities, and other infrastructure components that are needed in the production and processing.

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