ADB Greenlights USD400M to Tackle Philippines Food Insecurity
(MENAFN) The Asian Development Bank (ADB) announced Wednesday it has approved a $400 million loan aimed at tackling hunger, food insecurity, and malnutrition in the Philippines amid rising climate and disaster threats.
The funding will back the Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project, designed to expand the government’s flagship social welfare program, the Zero Hunger Food Stamp Program, according to an ADB press release.
This initiative will finance monthly electronic food vouchers for 750,000 vulnerable Filipino households nationwide, the bank detailed.
“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,” stated ADB Deputy Director General for Southeast Asia and concurrent Country Director for the Philippines, Pavit Ramachandran.
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