State-owned Development Bank of the Philippines (DBP) signed an agreement with the Department of Agriculture (DA) for the distribution of cash subsidies to around 900,000 marginal farmers under the DA’s Cash and Food Subsidy to Marginal Farmers and Fishers (CFSMFF) program, a top official said.

In a statement on Monday, DBP President and Chief Executive Officer Emmanuel G. Herbosa said the DA program utilizes financial technology through the use of an e-voucher system to ensure more efficient and transparent program implementation.