After a series of consultations and missions between the Department of Agriculture (DA), the World Bank (WB), and other prospective DA implementing agencies, the DA has finalized the mission on the proposed “Philippine Sustainable Agriculture Transformation (PSAT)” project, which will be funded under the WB’s Program-for-Results (PforR) financing scheme.
Agriculture Undersecretary for Special Concerns and Official Development Assistance (ODA) Jerome V. Oliveros, Undersecretary for Finance Nora Oliveros, and Assistant Secretary Arnel V. De Mesa, led the wrap-up meeting on October 4, 2024, at Marquis Events Place, Bonifacio Global City, Taguig.
“I wish to congratulate everyone for excellent job so far. The series of mission that we undertaken together this past couple of weeks raised many concerns, pose several questions, and reveals challenges that we need to overcome,” Usec. Oliveros said.
The meeting aimed to review the agreements made during the Mission conducted with stakeholders and discuss the mechanisms and arrangements necessary for the smooth implementation of the PSAT project.
The PSAT project will be the first project undertaken by the Philippine government under the PforR financing scheme. PforR is a World Bank financing tool designed to help governments improve the efficiency of their expenditure programs and achieve sustainable results by strengthening institutions and building capacity. Its unique features include the use of a country’s own institutions and processes and linking fund disbursement directly to the achievement of specific program results.
The DA’s PSAT project aims to accelerate and scale up agriculture and fisheries development by providing substantial support to agri-food systems resilience through climate-responsive approaches, diversification, an enabling policy environment, and enhanced fiscal performance.
With a proposed budget of US$1 billion (Php 55.9 billion), the project will be implemented from 2025 to 2029. The DA targets to begin the procurement process by July 2025. ### (Kristel Joyce Merle, DA-AFID)
