The Department of Agriculture (DA) is looking to close a better funding deal for a massive irrigation project that Agriculture Secretary William Dar inherited from his predecessor Emmanuel Piol.
The Department of Agriculture (DA) is looking to close a better funding deal for a massive irrigation project that Agriculture Secretary William Dar inherited from his predecessor Emmanuel Piol.
Dar said that Innovative Agro Industry Ltd. (IAI), an affiliate of LR Group, a leading project development company in Israel, is looking to meet with the officials of the Department of Finance (DOF) next week to present a loan proposal worth US$200 million or 10.2 billion, which will be used to fund the development of solar-powered irrigation system (SPIS) units across the countries.
The DA’s plan to develop SPIS units which aims to provide water to at least 500,000 hectares of farms over the remaining years of the Duterte administration was first announced by Piol last year.
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