The Asian Development Bank (ADB) has approved a $400 million policy-based loan to support reforms by the Philippine government aimed at raising the productivity and competitiveness of the country’s agriculture sector and significantly reducing poverty in rural areas.

The Competitive and Inclusive Agriculture Development Program, Subprogram 1, will 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.