The Asian Development Bank (ADB) has approved a $400-million policy-based loan to support state reforms that aim to increase the productivity and competitiveness of the Philippine agriculture sector.

In a statement on Wednesday, the Manila-based regional multilateral lender said the loan, called the “Competitive and Inclusive Agriculture Development Program, Subprogram 1,” would “help the government expand economic opportunities in the farm sector by implementing trade policy and regulatory reforms, enhancing public services and finance to the sector, and expanding social protection to rural families.”

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