Philippine President Ferdinand Marcos Jr gestures during his speech as he visits an evacuation center in Guinobatan town, Albay province, northeastern Philippines, June 14, 2023. (PHOTO / AP)

MANILA - The Philippines on Monday said it had signed four loan agreements with the World Bank totaling $1.14 billion, including $750 million of budgetary support for policy reforms to boost environmental protection and climate resilience.

The agreements also include $276 million of funding support for two projects aimed at developing the agriculture and fisheries sectors, and $110 million financing for improving education quality, according to the Philippines' finance department.

The Southeast Asian country is looking to transform its long-neglected farm sector into an engine of growth.

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President Ferdinand Marcos Jr, who is also the agriculture minister, has vowed to undertake reforms to improve productivity of the sector, which in recent years accounted for about a tenth of gross domestic product.