World Bank backs local agri overhaul

The World Bank has given its go-ahead to the $24.5-million Technical Assistance for Sustainable Agricultural Transformation (TASAT) program, which will complement the Philippines’ largest-ever single loan from the Washington-based multilateral lender aimed at diversifying the sector and moving away from the heavy focus on rice self-sufficiency.

- BEN ARNOLD DE VERA

Documents showed that the World Bank’s board greenlit this grant financing last April 23. To be implemented by the Department of Agriculture (DA), the TASAT grant aims to "strengthen institutional capacity and systems for climate-smart agriculture, repurposing fertilizer subsidy program, diversification, and increased export development and growth as envisioned by PSAT," referring to the Philippines Sustainable Agriculture Transformation program.

TASAT’s approval follows the $1-billion loan financing for PSAT, which will also be implemented by the DA and is expected to benefit at least five million farmers nationwide.

Approved in March, PSAT aims to boost agricultural productivity, promote diversification, and enhance the climate resilience of agrifood systems across the country, specifically by prioritizing climate-smart practices in rice-based farming, including improved seed and nutrient management, water-saving techniques, greenhouse gas (GHG)-reducing methods, and post-harvest loss reduction.