Manila, April 27 -- The Department of Agriculture (DA) is seeking to secure up to USD500 million in funding to boost the engineered bamboo sector by 2027.

Interviewed on the sidelines of the opening of the first Philippines Hand-in-Hand (HIH) National Investment Forum in Pasig City on Monday, DA spokesperson Assistant Secretary Arnel de Mesa said the agency is working with global financial institutions to assess the project's feasibility.

"Asian Development Bank and other banks are willing to finance because there is a lot of potential, specifically of engineered bamboo," he said.

The proposed loan could range from USD300 million to USD500 million and would support the development and capacity-building of the local bamboo industry, par...