The European Commission (EC) said on Apr. 7 it has approved a grant of 10 million EUR (13.4 million USD) for the Philippines to support agriculture and improve the food security situation in the country.
The project, to be implemented by the Department of Agriculture and co-financed by the International Fund for Agricultural Development, will help to assure the supply of rice seed and increase rice production in the country, The Philippine Star said citing a press release by the EC.
The grant is part of the first financing decisions taken in the framework of the 1.0 billion-EUR Food Facility approved by the European Union last year as a response to the growing food security problems faced by many developing countries.
Several other projects are also foreseen for the Philippines under the Food Facility, with the financing decisions expected in the coming months, the paper added.
The European Parliament and Council adopted last December a regulation on establishing the Food Facility, which will operate for a period of three years from 2009. Within the facility, the EC has earmarked a total of some 30 million EUR (roughly 40.2 million USD) for actions to be implemented in the Philippines.