The Asian Development Bank (ADB) has approved a $400-million loan to reduce hunger and undernutrition among Filipinos, particularly for children under five.
The Manila-based regional development bank said on Wednesday the loan will improve food security and nutrition, especially given the country’s worsening climate and disaster risks.
Dubbed the “Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project,” the initiative supports the government’s Walang Gutom (Zero Hunger) Food Stamp Program.
The loan will fund monthly electronic food vouchers for 750,000 food-insecure households nationwide.
“This project reflects ADB’s commitment to improving food security and nutrition so that all Filipinos can thrive,” ADB Country Director for the Philippines, Pavit Ramachandran, said.
He added that the food vouchers will help poor and vulnerable households purchase a “healthy and nutritious diet” and that poverty and food insecurity are major contributors to undernutrition.
ADB said nearly 30 percent of Filipino children under the age of five are stunted, with these nutritional deficiencies impairing learning, health, and future productivity. The bank noted that childhood undernutrition costs the local economy an estimated $8.5 billion annually.
Recipients of the electronic food vouchers will be required to attend monthly sessions designed to encourage positive nutrition-related behaviors and increase their knowledge about malnutrition and poverty.
The project will also help the government implement its food security and nutrition initiatives and improve its “shock-responsive social protection” to ensure timely assistance during disasters and economic shocks.
The project is co-financed by a $220-million loan from the Agence Française de Développement (AFD) and a $150-million loan from the OPEC Fund for International Development.
From December 2023 to July 2024, the ADB, in partnership with the World Food Programme, provided technical assistance to the Department of Social Welfare and Development to pilot the delivery of electronic vouchers in five locations. The ADB has been a long-time supporter of the government’s social protection projects, including the 15-year Pantawid Pamilyang Pilipino Program (4Ps).
