Read this in The Manila Times digital edition.
THE Asian Development Bank (ADB) plans to invest $500 million in the Philippine rice sector from 2025 to 2030 as part of an initiative to boost sustainable and low-carbon rice production across Asia and the Pacific.
The ADB and the Consortium of International Agricultural Research Centers (Cgiar) launched the initiative during the International Rice Research Institute's (IRRI) 65th anniversary on Monday, as supported by the Gates Foundation.
ADB Senior Director Qingfeng Zhang said the $500-million investment in the Philippines would be used for the development of irrigation, rice farming and agricultural logistics.
The amount is part of ADB's planned investment of up to $1.5 billion on the program over 2025-2030 for the Asia-Pacific region. This will be allocated to help the rice sector sustainably improve its productivity, adapt to climate conditions, and reduce its water and carbon footprints.
Despite feeding more than half of the population and being the livelihood of millions of rural poor, rice farming in the region is facing a lot of challenges. These include issues such as the decline in productivity, a decrease in water supply, and greenhouse gas emissions.
The ADB said these issues pose challenges to food security and the well-being of communities.
"Rice is essential to food security in Asia, supplying over a quarter of the region's calorie intake, and half in Southeast Asia. For hundreds of millions of smallholder farmers, rice is not just food, it is their livelihood. Today, that livelihood is increasingly threatened by extreme weather and environmental degradation," said ADB Vice President Fatima Yasmin.
The ADB and Cgiar also partnered to establish a clearinghouse facility, financed with the help of the Gates Foundation, through which they will push for farming practices that are resilient and high-yield. It will also advocate for sustainable water use, as well as inclusive value chains and improved nutrition for the poorest citizens of the region.
"This joint initiative will reinforce Cgiar's strategic collaboration with ADB and scale up Cgiar's innovations in rice systems and beyond," said IRRI director General Yvonne Pinto.
"Alongside partners such as ADB and Gates Foundation, we can drive sustainable and resilient transformation of the rice sector in Asia and transform the lives of millions of smallholder farmers now and in the future," she added.
Aside from the Philippines, the organizations are currently developing initial projects in countries such as Bangladesh, Cambodia, Pakistan, and the People's Republic of China.