The Department of Agriculture (DA) said it has received a $2-million (P100 million) grant from the Asian Development Bank (ADB) to bankroll a program that seeks to “reduce income inequality” among farmers amid the Covid-19 pandemic. In a news statement, DA said the ADB signed the agreement on Thursday to fund the Philippine Competitive and Inclusive Agriculture Development Program (CIADP2). The funding for the CIADP2 was made through ADB’s Japan Fund for Poverty Reduction. “The CIADP2 aims to reduce income inequality by expanding economic opportunities in the country’s farm-fishery sector amid the Covid-19 pandemic,” it added.

Arcalas, J. E. Y. (2021, December 17). DA gets ₱100-M fresh ADB loan for farm-fishery sector. Business Mirror, p. A4.