ADB to invest $500M in PH rice sector for climate adaptability

The Asian Development Bank (ADB) plans to invest $500 million in the Philippines' rice sector to improve climate adaptability between 2025 and 2030.

This investment is part of ADB's larger initiative to allocate $1.5 billion across Asia by 2030, with a total commitment of $40 billion for food systems transformation by 2030.

Qingfeng Zhang, senior director at ADB, said the fund will support irrigation, rice farming, and agricultural logistical development in partnership with the Consultative Group on International Agricultural Research and the Gates Foundation.

The initiative aims to promote high-yield and low-emission farming practices, inclusive value chains, and improved nutrients for farmers across Asia's poorest regions.

In the Philippines, the funds will enhance farming practices and irrigation as well as develop a logistical system for rice, helping farmers navigate the carbon credits market.