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LANDBANK Agri-Hub rises in Baggao, Cagayan
Baggao Mayor Leonardo C. Pattung (leftmost) and LANDBANK President and CEO Cecilia Cayosa Borromeo (5th from left) lead the inauguration rites for the LANDBANK Baggao Agri-Hub on 27 April 2023, at the Baggao LGU Compound, Brgy. San Jose, Baggao, Cagayan. Joining them are Vice Mayor Rowel B. Gazmen (3rd from left), former Cagayan 1st District Representative, Atty. Ramon C. Nolasco, Sr. (2nd from left), and from LANDBANK, Executive Vice President Liduvino S. Geron (4th from left) and Senior Vice President Ma. Belma T. Turla (6th from left). BAGGAO, Cagayan – Towards servicing the development needs of small farmers and fishers, the Land Bank of the Philippines (LANDBANK) officially inaugurated its newest Agri-Hub in the Municipality of Baggao – the very first in the Province of Cagayan. The LANDBANK Baggao Agri-Hub provides banking, lending, and agrarian services, all under one roof, for residents of the Municipality’s 48 barangays, including over 17,500 rice and corn farmers. The location of the Agri-Hub allows Baggaoeños to conveniently perform their banking transactions without having to travel all the way to Tuguegarao City, which is more than an hour away from Baggao. Local LANDBANK customers include more than 11,000 Conditional and Unconditional Cash Transfer beneficiaries of the Department of Social Welfare and Development (DSWD). Baggao Mayor Leonardo C. Pattung and LANDBANK President and CEO Cecilia Cayosa Borromeo led the inauguration rites on 27 April 2023. They were joined by Vice Mayor Rowel B. Gazmen, former Cagayan 1st District Representative, Atty. Ramon C. Nolasco, Sr., and from LANDBANK, Executive Vice President Liduvino S. Geron and Senior Vice President Ma. Belma T. Turla. “Kaisa po ninyo ang LANDBANK upang mas ilapit sa bawat mamamayan ng Baggao ang mga programa at proyekto ng ating pamahalaan. We look forward to more years of progressive partnership with the Baggao LGU as we explore more avenues for collaboration, in the service of Baggaoeños and the nation at large,” said President Borromeo. Located at the Baggao LGU Compound in Brgy. San Jose, the LANDBANK Baggao Agri-Hub is headed by Elcidita J. Villaruz under the supervision of Tuguegarao (Capitol) Branch Head, Joselita S. Simeon. The newly-inaugurated Agri-Hub forms part of LANDBANK’s physical network in the province, consisting of 10 Branches and Branch-Lite Units, 54 ATMs, seven CDMs, and one mobile ATM. “We want to convey our sincerest gratitude to LANDBANK for their unwavering assistance towards the convenience and welfare of Baggaoeños. The Baggao LGU will always be ready to support your undertakings, as we mutually fulfill our vision of providing responsive public service,” said Mayor Pattung. Strategically located in the top rice-producing provinces in the country, LANDBANK Agri-Hubs are designed to provide banking services such as account opening, withdrawals, and check encashments; lending services such as the processing of loan applications; and agrarian services such as processing of Agrarian Reform (AR) bonds and handling of agrarian-related concerns from landowners, bondholders, and Agrarian Reform Beneficiaries (ARBs). LANDBANK now operates a total of 16 Agri-Hubs nationwide, located in the Provinces of Pangasinan, Ilocos Sur, Isabela, Pampanga, Nueva Ecija, Oriental Mindoro, Camarines Sur, Negros Occidental, Iloilo, Bohol, Misamis Occidental, Misamis Oriental, Bukidnon, Sarangani, and Davao del Norte.
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LANDBANK completes UCPB merger ahead of BSP deadline
Conversion complete. Former UCPB Del Monte-Bonifacio Branch in Brgy. Manresa, Quezon City was one of the first branches successfully converted into a LANDBANK Branch, following the merger of LANDBANK and UCPB on 01 March 2022. The Land Bank of the Philippines (LANDBANK) announced the successful conclusion of the merger of United Coconut Planters Bank (UCPB) with LANDBANK, following the conversion of all UCPB branches and accounts into its system with no major operational disruption. The conversion activities for 188 UCPB branches and over 495,000 accounts started on 09 July 2022 and were completed on 25 February 2023, ahead of the 01 March 2023 deadline set by the Bangko Sentral ng Pilipinas (BSP). “The seamless and timely completion of the merger is a testament to LANDBANK’s commitment to providing quality and uninterrupted service. With the bolstered branch network and resources, the Bank is now more positioned to play a principal part in the development and financial inclusion agenda of the National Government,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. The merger of LANDBANK and UCPB officially took effect on 01 March 2022, pursuant to Executive Order No. 142 signed by former President Rodrigo R. Duterte on 25 June 2021. The merger further solidified LANDBANK’s ranking as the second-largest bank in the country, with total assets reaching P3.1 trillion as of end-March 2023. LANDBANK customers now enjoy access to wider physical touchpoints and menu of banking products and services. The Bank now has 607 branches and branch-lite units, 58 lending centers, 2,906 automated teller machines (ATMs), 224 cash deposit machines (CDMs), and 1,072 Agent Banking Partners (ABPs) nationwide.
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LANDBANK agri loans jump 14.8% to P271.8-B as of Q1 2023
The Land Bank of the Philippines (LANDBANK) continues to firm up its support to the agriculture sector, with outstanding loans reaching P271.8 billion as of 31 March 2023 – a 14.8% year-on-year growth from P236.8 billion in the same period in 2022. Of the Bank’s agri loans, P42.3 billion directly benefitted small farmers and fishers, including those which were channeled through cooperatives and farmers’ associations, rural financial institutions and other conduits. “LANDBANK continues to provide accessible financing for small farmers and fishers, as well as the whole agri-value chain. We are fully committed to supporting the National Government’s efforts to ensure food security towards advancing growth that is sustainable and inclusive,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. As support to other agri-value chain players, LANDBANK extended P181.2 billion to finance the requirements of small, medium and large agribusinesses. The remaining P48.3 billion in loans backed agri- and aqua-related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs). In terms of economic activities, P64.5 billion of the agri loans were channeled to boost livestock and crop production, while P120 billion accounted for loans for agri-processing and trading. Meanwhile, P87.3 billion supported the construction and improvement of essential agri infrastructures such as public markets, farm-to-market roads, warehouses, cold storages, and irrigation systems, among others. Intensified support to rice, coconut industries In support of the National Government’s thrust to boost palay production and ensure sufficient rice supply in the country, the Bank continues to ramp up its lending activities to rice farmers and other rice industry stakeholders. As of end-March 2023, LANDBANK’s outstanding loans to the local rice industry has reached P9.7 billion to finance requirements for palay production and processing, such as farm inputs, machineries, equipment, and facilities, among others. Apart from loans, the Bank has also distributed cash grants amounting to P1.5 billion to 291,241 farmer-beneficiaries nationwide under the Rice Competitiveness Enhancement Fund - Rice Farmers Financial Assistance (RCEF-RFFA) Program, in partnership with the Department of Agriculture (DA). LANDBANK likewise continues to provide responsive credit assistance to the coconut sector with outstanding loans amounting to P643 million, benefitting coconut farmers and other stakeholders engaged in the production and processing of coconut-based products. Earlier this year, LANDBANK launched its new Coconut Farmers and Industry Development (CFID) Lending Program, in support of the Coconut Farmers and Industry Development Plan (CFIDP) spearheaded by the DA and the Philippine Coconut Authority (PCA). Under the Program, eligible coconut farmers, cooperatives and associations can access financing for various projects, including the establishment of intercrops and poultry or livestock integration in coconut farms. Individual coconut farmers can use the loan to increase production and working capital, to acquire machines and equipment, and establish necessary facilities. Coconut cooperatives and associations can also utilize the financing for relending and rediscounting to their members. LANDBANK will provide short-term and long-term loans with a fixed affordable interest rate of 2% per annum.
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LANDBANK, PAGASA launch $22-M climate adaptation project
A COLLABORATIVE CLIMATE INITIATIVE – DOST Secretary Renato U. Solidum Jr. (4th from right), PAGASA Administrator Dr. Vicente B. Malano (2nd from right) and LANDBANK Vice President Esperanza N. Martinez (3rd from right) are joined by heads and representatives of other executing entities in launching the “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines” on 26 April 2023 in Quezon City. (Photo Courtesy of DOST-PAGASA) The Land Bank of the Philippines (LANDBANK) and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) have joined hands to lead the establishment of an impact-based forecasting and early warning system, to enable communities take better pre-emptive measures against natural calamities. The “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines” or the “IBF-Ph Project” is supported by a $10-million grant from the Green Climate Fund (GCF) and $12 million in co-financing from PAGASA, under the Department of Science and Technology (DOST). The IBF-Ph Project aims to address the challenges related to climate hazards by communicating what the weather “will do” rather than what the weather “will be.” It will combine the best available science and local knowledge on forecasting and risk assessment, instead of generating standardized information based on thresholds and lead times. The IBF-Ph Project will run until 2027, with the end goal of institutionalizing impact-based forecasting and integrating early warnings into investment and policy decisions. It will be piloted in the disaster-prone areas of Palo, Leyte; New Bataan, Davao de Oro; Tuguegarao City, Cagayan; and Legazpi City, Albay. “LANDBANK welcomes the opportunity of working with PAGASA and other development partners to advance sustainable finance and contribute to addressing the challenges of climate change. We look forward to the successful implementation of the IBF-Ph Project, as part of our broader thrust of promoting sustainable development,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. GCF Mitigation and Adaptation Division Director Dr. German Velasquez, along with Science and Technology Secretary Renato U. Solidum Jr. and PAGASA Administrator Dr. Vicente B. Malano, led the national launch of the IBF-Ph Project on 26 April 2023 at the Crowne Plaza Manila Galleria Hotel in Ortigas Center, Quezon City. They were joined by Interior and Local Government Director Edgar Allan B. Tabell, Climate Change Commission Assistant Secretary Romell Antonio O. Cuenca, Office of Civil Defense Administrator Undersecretary Ariel Nepomuceno, PAGASA Deputy Administrator Dr. Esperanza O. Cayanan, and LANDBANK Vice President Esperanza N. Martinez. Also present were World Food Programme Country Director Brenda Barton, Tuguegarao City Mayor Maila Rosario Ting-Que, Legazpi City Mayor Carmen Geraldine B. Rosal, Palo Mayor Remedios L. Petilla, and other local development partners. The IBF-Ph Project is the very first GCF-approved project in the country, with PAGASA as the lead executing entity and LANDBANK serving as a Direct Access Entity (DAE) to ensure that the project is compliant with GCF policies and standards. Other project implementors are the Department of Interior and Local Government (DILG), Office of Civil Defense (OCD), Department of Environment and Natural Resources – Mines and Geosciences Bureau (DENR-MGB), the United Nations’ World Food Programme (WFP), and the local government units of Tuguegarao City, Legazpi City, Palo in Leyte, and New Bataan in Davao de Oro. Project collaborators include the National Economic and Development Authority (NEDA), Department of Finance (DOF), Climate Change Commission (CCC), and the Philippine Commission on Women (PCW).
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Towards saving for a better future: Cebu student opens LANDBANK account with one peso
Dhaemyze Wong, a Grade 7 student from Poro, Cebu, opened a LANDBANK PISO account – her very first bank account – on 27 January 2023, with just P1.00 as initial deposit and one valid ID. PORO, Cebu – 74-year-old Jesus Abao Wong has always dreamed of teaching his granddaughter the value of saving for the future – a lasting legacy he hopes she will cherish someday. “I have always wanted to open an ATM savings account for my granddaughter and teach her how to save for her future,” he said. However, he was worried that his 12-year-old granddaughter, Dhaemyze, would have difficulty opening and managing her own bank account, especially in preparing and submitting the necessary documentary requirements. So when he learned about the PISO (Perang Inimpok Savings Option) account offered by the Land Bank of the Philippines (LANDBANK), he immediately accompanied Dhaemyze to the LANDBANK Camotes Branch and successfully opened her very first bank account, with just P1.00 as initial deposit and one valid identification card. “The process was as easy as 1-2-3. As soon as we entered the premises of LANDBANK, we were promptly assisted by the personnel who helped us throughout the application process,” Jesus excitedly shared. Launched in 2022, the LANDBANK PISO account is offered to individuals without existing deposit accounts and have no capacity to open a regular deposit savings account with higher maintaining balance and documentary requirements. With her LANDBANK PISO account, Dhaemyze can now securely keep her extra cash from her school allowance and savings, and more importantly, develop healthy financial habits at an early age with the guidance of her grandfather. “LANDBANK personnel have always been courteous and friendly. As a customer, I am confident that they will always be ready to assist the banking needs of my granddaughter anytime,” added Jesus. Banking the unbanked As of 31 March 2023, LANDBANK has opened close to 18,000 PISO accounts for unbanked and underserved Filipinos, including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers. This covers remote communities across the country, reaching as far as the municipalities of Basco, Batanes; Moalboal, Cebu; Mati, Davao Oriental, and Claver, Surigao del Norte, among other far-flung areas. With the LANDBANK PISO, accountholders can access the Bank’s menu of digital banking channels such as the iAccess, Link.BizPortal, and the Mobile Banking App for convenient fund transfer, bills payment, and balance inquiry services. Accountholders can also use the PISO account in any LANDBANK, BancNet, and 7-Eleven Automated Teller Machines (ATMs), domestic Point-of-Sale (POS) terminals, and for over-the-counter transactions in their respective LANDBANK branch of account. To open a LANDBANK PISO account, interested individuals only need to bring one peso and one valid ID or any Barangay certification/clearance for verification to the nearest LANDBANK Branch.
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Buguey LGU taps LANDBANK online payment facility
(seated) Buguey Mayor Licerio M. Antiporda III (left) and LANDBANK Aparri Branch Head Bernard A. Evangelista (right) sign a partnership to offer the LANDBANK Link.BizPortal to residents for the convenient payment of local fees. Joining them (standing) are Municipal Treasurer Malena Unciano (leftmost), Municipal Accountant Marizel Talla (2nd from left), and LANDBANK Aparri Executive Assistant Nico S. Callangan (rightmost). BUGUEY, Cagayan – The Municipal Government of Buguey recently inked a partnership with the Land Bank of the Philippines (LANDBANK) to provide residents with a safe and convenient online payment platform for local government fees. Through the LANDBANK Link.BizPortal, residents from Buguey’s 30 barangays can now settle fees, dues and charges to the Local Government Unit (LGU) at their convenience with just a few clicks on their computers or mobile devices. The signing of the Memorandum of Agreement was led by Buguey Mayor Licerio M. Antiporda III and LANDBANK Aparri Branch Head Bernard A. Evangelista at the Buguey Municipal Building. They were joined by Municipal Treasurer Malena Unciano, Municipal Accountant Marizel Talla, and LANDBANK Aparri Executive Assistant Nico S. Callangan. “We are grateful for the accessibility provided by LANDBANK, as the Link.BizPortal accepts online payments like property taxes for the LGU. The people of Buguey are really thankful to LANDBANK and its services,” said Mayor Antiporda. The Municipal Government of Buguey joins the new 65 government merchants, 47 of which are LGUs, that have been enrolled in the Link.BizPortal system within the first two months of 2023. As of February 2023, the LANDBANK Link.BizPortal already has a total 1,205 partner merchants nationwide composed of 863 government and 342 private partners. The digital platform has also facilitated over 1,500,000 transactions or 64% higher year-on-year with value of almost P2.1 billion. To further provide convenient digital banking services, the LANDBANK Aparri Branch also installed the first Point–of-Sale (POS) system at the Buguey LGU-owned Crab Hotel, to allow customers to transact using Debit and Credit cards. Meanwhile, the LANDBANK ATM previously at Barangay Pattao was relocated to Barangay Centro in front of the Buguey Municipal Building, to make it more accessible to local residents and nearby municipalities.
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LANDBANK income hits P10.8-B in Q1 2023
The Land Bank of the Philippines (LANDBANK) recorded a net income of P10.8 billion in the first three months of 2023, buoyed by higher interest income and lower operating costs. The three-month figure is P2 billion higher than its target for the first quarter and represents 30.8% of the Bank’s P35 billion income target by year-end. The net income recorded for the quarter slipped 18% from the unprecedented P13.2 billion booked in the same period last year, which was propelled by non-recurring miscellaneous income. Interest income from loans and investments rose 54% to P20.9 billion, despite the higher cost of funds due to volume of deposits and rising interest rates. On the other hand, operating expense declined by P797 million. “As we maximize yields from earning assets while being prudent with our expenses, LANDBANK’s robust financial position allows us to advance the National Government’s development agenda. We are fully capable to continue extending intensified support to the agriculture sector and other key economic industries, while driving sustainable growth in local communities,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. In terms of assets, the Bank grew its base by 11.7% to P3.1 trillion as deposits expanded to P2.8 trillion. The government sector remains to be the core depositor of the Bank, contributing 71% of its total deposits. Meanwhile, LANDBANK posted modest capital growth year-on-year at 3.2% to P225.3 billion. This expansion was driven by the Bank’s net income, notwithstanding the dividend remittance to the National Government in June 2022 worth P8.45 billion and the decline in other comprehensive income. The Bank’s financial ratios remain at healthy levels, with a return on equity at 12.46% and net interest margin at 3%.
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LANDBANK backs Pangasinan dev’t plan with P6-B loan
The Land Bank of the Philippines (LANDBANK) is supporting the Provincial Government of Pangasinan with a P6-billion loan to fast-track various priority transportation, health, education, tourism development and urban township projects of the Province. Majority of the P6 billion omnibus term loan agreement worth P2.85 billion will fund big-ticket infrastructure projects designed to enhance mobility and upgrade healthcare services in Pangasinan. Terminals, land ports, and bus stops will be built along the Pangasinan Link Expressway (PLEX) to complete an intermodal transportation system, designed to promote better mobility to local tourist destinations. Also in the pipeline are the construction of seaports, the expansion of the Lingayen Airport, and the construction of a new airport in Bani which will support a salt farm resort likewise to be developed. The LANDBANK loan will also cover the establishment and upgrading of provincial hospitals in the city of Urdaneta, and the municipalities of Lingayen, Tayug, San Carlos, Binalonan and Umingan. “The P6-billion loan is in full support of Pangasinan’s development agenda towards a more inclusive, resilient, and sustainable local economy. This investment also underscores LANDBANK’s collaborative efforts for the province’s growth trajectory anchored on the efficient delivery of public service,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK will also provide financing worth P1.95 billion to boost tourism activities, which include the construction of a new hotel which will carry an international brand, among other resorts for construction, and the development of event and entertainment facilities. The remaining P1.2 billion of the loan is allocated for the establishment of the Pangasinan Polytechnic College and the enhancement of several government centers. Aside from financing support, LANDBANK also opened a Corporate Center in Urdaneta City last year to provide the Province of Pangasinan wider access to convenient and responsive banking services. This year, LANDBANK will further expand its reach in the Province with three new ATMs in Alaminos City, Calasiao, and the unbanked municipality of Mapandan, alongside onboarding one Agent Banking Partner in Urbiztondo.
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T’boli co-op inks P224-M LANDBANK loan to boost pineapple production
(seated) LANDBANK Assistant Vice President Lilibeth D. Alvarez (2nd from left) and T’Boli Farm Growers Multi-Purpose Cooperative (TFGMPC) Chairwoman Jocelyn S. Serofia (3rd from left) lead the ceremonial signing of a P224-million credit agreement to increase the co-op’s production of pineapple fruits and fibers. Joining them are TFGMPC Manager Adolfo D. Tanco, Jr. (rightmost) and Treasurer Arcadio L. Adelantar III (leftmost), alongside TFGMPC Board members and LANDBANK staff as witnesses. T’BOLI, South Cotabato — In line with its intensified support to the agriculture sector, the Land Bank of the Philippines (LANDBANK) recently granted a P224-million loan assistance to the T’Boli Farm Growers Multi-Purpose Cooperative (TFGMPC) to further expand the cooperative’s production of pineapples and pineapple fibers. Bulk of the LANDBANK loan amounting to P180 million will augment the co-op’s working capital requirements for the procurement of farm inputs and other costs to boost pineapple production. Meanwhile, TFGMPC will utilize P34 million to acquire farm machineries and post-harvest facilities for hauling and land preparation, such as tractors, service vehicles, trucks, and a backhoe loader. The remaining P10 million will be used to increase the volume of pineapple fibers that the co-op is exporting to the United Kingdom, which are used to manufacture pineapple leather material for shoes, bags and other accessories. “LANDBANK continues to intensify its lending support to the agriculture sector, especially farmers in the Mindanao region. LANDBANK is committed to deliver timely and responsive support to expand their operations and boost their production and income," said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK South Cotabato Lending Center Head, Assistant Vice President Lilibeth D. Alvarez and TFGMPC Chairwoman Jocelyn S. Serofia led the ceremonial loan signing, together with TFGMPC Manager Adolfo D. Tanco, Jr., Treasurer Arcadio L. Adelantar III, alongside TFGMPC Board members and LANDBANK staff as witnesses. LANDBANK has been a long-time development partner of TFGMPC spanning 28 years, with the latest loan to benefit the co-op’s 991 farmer-members operating in a total of 1,041 hectares of farmland in the municipalities of T’boli, Surallah, Lake Sebu and Banga. The TFGMPC started in 1993 with only 17 members primarily to cater to the financing requirements of farmers engaged in pineapple production. In 1995, the co-op operated through a pineapple contract growing scheme with the T’boli Agro-Industrial Development, Incorporated (TADI), with the successful partnership translating into a 400 hectare-plantation, supported by a P20-million loan line from LANDBANK. In 2004, Dole Philippines, Inc. (Dolefil) took over TADI’s operations and became the marketing arm of the co-op’s produce. Over the years, TFGMPC has ventured into pineapple fiber production after the Department of Agriculture (DA), through the Philippine Fiber Industry Development Authority (PhilFIDA), awarded the co-op five decorticating machines. With a stable market and reliable financing from LANDBANK, the TFGMPC continues to expand its operations and shares their success with local communities by conducting feeding programs, reforestation, and nursery activities, as well as granting of scholarships for students.
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LANDBANK assists power firms with ‘anti-bill shock’ program
LANDBANK President and CEO Cecilia Cayosa Borromeo (2nd from right) leads the launching of the new LANDBANK ANTI BILL SHOCK Lending Program, designed to provide financing to electric distribution companies while cushioning households from paying higher electricity bills. She is joined by Energy Regulatory Commission (ERC) Chairperson Atty. Monalisa C. Dimalanta (3rd from right), National Electrification Administration (NEA) Deputy Administrator Leila B. Bonifacio (leftmost), and LANDBANK Senior Vice President Ma. Celeste A. Burgos (rightmost). Amid forecasts of warmer temperature during the forthcoming dry season, the Land Bank of the Philippines (LANDBANK) is launching a new initiative that aims to cushion consumers from paying higher electricity bills due to the expected increase in power consumption. Under the ANTI BILL SHOCK Lending Program, LANDBANK will provide financing to electric distribution companies at concessional rates with no additional spread on their working capital. This arrangement will enable the distribution companies to spread out the incremental increases in their customer’s billings by up to nine months without passing the borrowing cost to consumers who cannot afford to pay at full cost. Under the short term loan facility, borrowers will also be required to implement an anti-electric bill shock program to protect their respective clients from the expected increase in electricity bills. The ANTI BILL SHOCK Lending Program stands for Assistance to Narrow and Trim down the Incremental power cost increase via Bridge financing Initiative of LANDBANK to Lower and Spread out HOt summer-triggered monthly Consumption on Konsumers’ Electricity. “LANDBANK aims to provide consumers more breathing room to pay their energy bills by helping prevent a price surge on their monthly expenditures. We are also committed to boosting the capacity of energy players to provide sufficient, accessible and reasonably-priced supply of electricity nationwide,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. President Borromeo led the launching of the ANTI BILL SHOCK Lending Program on 14 April 2023 at the LANDBANK Plaza, together with Energy Regulatory Commission (ERC) Chairperson Atty. Monalisa C. Dimalanta and National Electrification Administration (NEA) Deputy Administrator Leila B. Bonifacio. “This is one of the best examples of the beauty of a whole-of-government approach—it’s not just DOE, it’s not just ERC, but also our counterparts in the financing sector. This is really, together, finding solutions for our consumers so that we can provide the much needed relief,” said Chairperson Dimalanta. For her part, Deputy Administrator Bonifacio commended LANDBANK’s continued commitment as a dependable partner of electric cooperatives, in pursuit of the objectives of the rural electrification program. “The launching of your ANTI BILL SHOCK Lending Program is, indeed, a demonstration of your organization’s dynamic initiative to explore all possible opportunities to aid the energy sector, where the electric cooperatives belong,” she said. The event was also attended by member-representatives from the Philippine Rural Electric Cooperatives Association Incorporated (PHILRECA) and the Philippine Electric Plant Owners Association (PEPOA), together with LANDBANK Senior Vice President Ma. Celeste A. Burgos and Vice President Esperanza N. Martinez. The state-run Bank has initially allocated P1.5 billion for the lending program. Power distributors may loan up to 80% of the incremental increase on the working capital requirement during the summer months but not to exceed the repayment capacity of the distribution utilities or three times the average billings of its power suppliers. Interested borrowers may contact the nearest LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
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As COVID-19 recovery loans for LGUs hit P113-B: LANDBANK funds free public Wi-Fi in Quirino Province
ALL CONNECTED: Quirino Governor Dakila Carlo “Dax” Cua takes a selfie with students from the Quirino General High School, who will soon benefit from the Province’s free public Wi-Fi project financed by the Land Bank of the Philippines. (Photo courtesy of the Provincial Government of Quirino) QUIRINO Province – When the COVID-19 pandemic abruptly forced schools to halt face-to-face classes and shift to online learning, the need for improved access to online learning resources became more pressing. Among those who struggled to cope with this set-up were students and teachers belonging to marginalized and rural areas in the Province of Quirino, as many of them did not have access to reliable and high-speed internet connection. To address this gap, the Provincial Government of Quirino under the leadership of Governor Dakila Carlo E. Cua sought the assistance of the Land Bank of the Philippines (LANDBANK) to enhance the internet connectivity and accessibility in the Province. Under the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, LANDBANK approved a P67-million loan to finance the digital infrastructure project of the Quirino LGU, which aims to provide free Wi-Fi in schools and other public areas in the Province in its first phase. The LANDBANK loan covers the procurement of an internet service provider; Wi-Fi equipment such as routers, modems and cables; and the installation of towers, among other provisions. The installation of the Wi-Fi equipment is already underway, with the Quirino LGU prioritizing schools, public markets, rural health units, municipal and barangay halls, and other public spaces to maximize the benefits of the improved internet infrastructure. Once completed this year, the project will provide students and residents with free internet access with speed of up to two gigabytes per second. The free Wi-Fi project is expected to boost education, healthcare, tourism, and public services in the Province by enabling and enhancing access to convenient online platforms. “LANDBANK’s financing facility is a big boost to the initiatives of LGUs. It provides relief to struggling LGUs while we ramp-up our efforts to mitigate the impact of the pandemic,” said Quirino Governor Cua. LANDBANK helps LGUs to rise up Under the RISE UP LGUs Lending Program, LANDBANK has approved loans totaling P113 billion for 408 LGUs as of 28 February 2023, to help ensure the resilient and sustainable recovery of local economies from the pandemic. Provincial, city and municipal governments may borrow from LANDBANK to finance their development and innovative projects geared towards rebuilding their communities and local economies. “LANDBANK continues to support local government partners toward full recovery from the pandemic, while also strengthening their capacity to withstand future crises. We aim to help develop resilient communities as part of our expanded mandate of serving the nation,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Eligible projects allowed under the Program include the purchase of agricultural produce, acquisition of equipment and construction of facilities to link products to the market, including other programs and projects of the LGU that provide basic and support services, social welfare, healthcare, and other infrastructure activities. LANDBANK has increased the fund allocation for the Program to P150 billion—15 times higher from the initial P10-billion in 2020—to accommodate more LGUs nationwide. The LANDBANK RISE UP LGUs Lending Program will be available until July 2025. Interested LGUs may contact the nearest LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
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LANDBANK joins DA in showcasing RCEF success stories
State-owned Land Bank of the Philippines (LANDBANK) recently joined the “Lakbay Palay” event organized by the Department of Agriculture-Philippine Rice Research Institute (DA-PhilRice) in the Science City of Muñoz, Nueva Ecija, to promote the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). During the two-day event, LANDBANK’s RCEF beneficiary Nariza B. Tan of Zaragoza, Nueva Ecija shared her experiences as the RCEF reached its fourth year of implementation. “Nakatulong ang pautang na aking na-avail mula sa RCEF dahil natustusan ko ang pangangailangan sa aking palayan. Sa dating 120 cavans per hectare, nadagdagan ng 30 cavans per hectare and aking ani. Mura pa ang interes sa 2% kada taon,” said Tan. The DA-PhilRice also launched the “Bantay Palay” Mobile App, which can monitor the prices of rice in real time. Certified inbred rice seeds were also distributed to farmers during the event. As of February 2023, LANDBANK has provided P1.9 billion funding support to 204 cooperatives and 12,086 individual farmers in 29 provinces covered by the Bank under the ERCA-RCEF. Through PhilRice and the Philippine Center for Postharvest Development and Mechanization (PhilMech), the RCEF has also provided 12 million sacks of seedlings to about one million farmers, and distributed 22,306 farm machineries to 7,136 farmers’ cooperatives and associations in 57 provinces nationwide.
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