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Manila Bulletin devider Business devider The Economy devider Philippines secures largest-ever World Bank loan to transform agri

Philippines secures largest-ever World Bank loan to transform agri

Published Mar 28, 2026 11:52 am  |  Updated Mar 28, 2026 05:52 pm

The Philippines has secured its largest-ever loan from the World Bank, with the Washington-based multilateral lender approving $1 billion on Friday, March 27.

This funding will support the Philippines Sustainable Agricultural Transformation Project (PSAT), which will be implemented by the Department of Agriculture (DA) and is expected to benefit at least five million farmers nationwide.

PSAT aims to boost agricultural productivity, promote diversification, and enhance the climate resilience of agrifood systems across the country, the World Bank said in a statement.

The project will prioritize 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, the World Bank said.

“This is a transformative investment in Philippine agriculture. By putting in place the right policies, systems, and partnerships, these projects will make agriculture more productive, competitive, and climate smart. Farmers will be better equipped to earn more, withstand climate shocks, and bring safer, more affordable food to Filipino households,” World Bank division director for the Philippines, Malaysia, and Brunei Zafer Mustafaoğlu said.

According to the World Bank, PSAT will also help farmers diversify into vegetables, fruits, livestock, and aquaculture while improving market access and modernizing logistics. By promoting mechanized farming through farmer cooperatives and associations, it will drive rural business growth and economies of scale.

A new digital voucher system will deliver farm inputs faster and more transparently, linking public spending to measurable gains in yields and incomes, the World Bank added.

The program will also boost agrifood exports by improving access to high-value crops and export certification laboratories. It will further modernize the DA by strengthening budgeting, data management, and procurement practices, according to the World Bank.

The World Bank structured the $1-billion funding as a program-for-results (PforR) operation, a financing instrument that links disbursements directly to the achievement of specific, pre-agreed outcomes under government-led development programs.

“This new initiative aims to deliver tangible benefits for farmers and consumers alike. Farmers will see higher incomes through stronger agricultural productivity—driven by better seeds, increased mechanization, and more efficient fertilizer use—as well as greater diversification, improved climate resilience, reduced post-harvest losses, and growth in agrifood exports. Better use of public resources will further amplify these gains,” World Bank senior agriculture specialist Mio Takada said.
As Manila Bulletin exclusively reported earlier, two more World Bank loans are up for approval in April after PSAT and the $800-million Philippines Growth and Jobs Development Policy Loan (DPL) 1 were greenlit this March.
According to documents seen by Manila Bulletin, the World Bank will approve the $600-million loan for the Project for Learning Upgrade Support and Decentralization (PLUSD) on April 3 and then will green-light the $800-million Philippines Second Energy Transition and Climate Resilience DPL on April 17.

Related Tags

World Bank Department of Agriculture (DA) Philippines Sustainable Agricultural Transformation (PSAT)
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