THE Asian Development Bank (ADB) said on Monday that the Philippines will receive $500 million from a $1.5-billion program to improve the climate adaptability of rice farms between 2025 and 2030.
The program is part of ADB’s broader $40-billion commitment to food systems transformation by 2030, according to Qingfeng Zhang, who heads the ADB’s agriculture operations, said at a briefing hosted by the International Rice Research Institute.
The initiative, in partnership with the Consultative Group on International Agricultural Research and the Gates Foundation, seeks to help farmers adapt to the changing climate and reduce their water intensity and carbon footprint.
It promotes the adoption of high-yield and low-emission farming practices; inclusive value chains; and improved nutrients for the Asia-Pacific’s poorest.
In the Philippines, the funds will enhance farming practices and irrigation as well as develop the logistical system for rice, Mr. Zhang said.
It will also help farmers navigate the carbon credits market, he added.
The ADB said in a statement that rice farming faces mounting pressure in the region from declining productivity and receding water supplies. It also contributes significantly to greenhouse gas emissions.
Bangladesh, Cambodia, Pakistan, and China are also among the program’s beneficiaries. — Kyle Aristophere T. Atienza