ADB Approves $400 Million Loan To Boost Philippines' Food Security

(MENAFN- IANS) Manila, Aug 13 (IANS) The Asian Development Bank (ADB) on Wednesday said it has approved a loan of 400 million US dollar to help the Philippines reduce hunger, food insecurity, and poor nutrition amid escalating climate and disaster risks.

The Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project will support the government in expanding its new flagship social assistance initiative, the Zero Hunger Food Stamp Program, the ADB said in its press release, Xinhua News Agency reported.

The project will help finance the delivery of monthly electronic food vouchers to 750,000 food-insecure households nationwide, the bank said.

"With nearly half the Philippine population unable to afford a healthy and nutritious diet, food vouchers are essential to help poor and vulnerable households meet their nutritional needs," said ADB Deputy Director General for Southeast Asia and concurrent Country Director for the Philippines, Pavit Ramachandran.

Earlier, on August 3, the ADB and the Bangladeshi government signed a 150 million US dollar loan agreement to improve technical and vocational education and training (TVET), aiming to enhance access to decent employment and boost the country's global market competitiveness.

Md Shahriar Kader Siddiky, secretary of Bangladesh's Economic Relations Division, and Hoe Yun Jeong, country director of ADB in Bangladesh, signed the loan agreement.

"Aligned with the country's economic diversification priorities, the program targets five key technology clusters: mechanical, electronics and electrical, information and communication technology, civil, and food and agriculture," said Jeong.

According to the ADB, the results-based assistance for the TVET Teachers for the Future Program will expand access to modern teacher training, especially in underserved regions outside Dhaka; improve the pedagogical and technical skills of educators in emerging technologies; and strengthen systems for teacher development, management, and reporting.

It said that at least 10,000 new and existing TVET teachers will enhance their capacities, positively impacting over 250,000 students.

The program will also establish a nationwide system for continuous professional development to ensure the sustained quality and relevance of TVET in Bangladesh, it added.

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