The 17th Sustainable Development Goal aims to enhance the international cooperation between developed and least-developed countries, and the Official Development Assistance (ODA) program is the largest source of external support in the attainment of this goal. The purpose of this study is to evaluate the effects of the Panay Island Upland Sustainable Rural Development Project (PIU-SRDP), an ODA project supported by the Korea International Cooperation Agency (KOICA) in partnership with the Department of Agriculture and the Local Government Units of project municipalities in the Philippines. We focused on Phase II of the PIU-SRDP, which implemented randomly various agriculture-based income-generating projects, aimed at improving the sustainable productivity of low-income farming households. Based on a spatial and intertemporal variations of the project, we exploit a difference-in-difference approach using household-level data. The results suggest that the project significantly increased the rice yield and farm income of beneficiaries. With the opposing views about the true impacts of ODA programs, our study shows evidence of the positive effects of an ODA project on farmer-beneficiaries. This study provides insights for future engagement and implementation of related community-based ODA, agriculture, and rural development projects.