Manila City Mayor Isko Moreno (3rd from left) and LANDBANK President and CEO Cecilia C. Borromeo (4th from left) present the signed Loan Agreement for P10 billion which will finance various development project in the City. Joining them are LANDBANK Executive Vice President for Branch Banking Sector Joselito P. Gutierrez (extreme right), LANDBANK Executive Vice President for Agricultural and Development Lending Liduvino S. Geron (2nd from right), Secretary to the Mayor Bernardito C. Ang (extreme left) and City Budget Officer Atty. Mary Grace Chua (2nd from left).
Complementing his vigorous campaign to clean-up the streets of Manila from garbage and eyesores, Manila Mayor Isko Moreno is also focusing on upgrading the city’s health, educational, tourism and public services facilities.
On November 11, 2019, the City Government of Manila signed a P10-billion Loan Agreement with Land Bank of the Philippines (LANDBANK) under the Bank’s Omnibus Term Loan Facility (OTLF).
The approved loan facility will be used to finance the following: (1) construction and renovation of the Ospital ng Maynila Medical Center, the Pamantasan ng Lungsod ng Maynila School of Medicine Building, the new City Hall building, and the Manila Sky Deck; (2) the rehabilitation of Manila Zoo and the development of Pandacan Depot into a commercial district; and (3) the acquisition of equipment, furniture and fixture for these projects.
Present during the loan signing were LANDBANK President and CEO Cecilia C. Borromeo, Executive Vice President for Agricultural and Development Lending Liduvino S. Geron, who signed for the Bank, and Senior Vice President for Corporate Banking Ma. Celeste A. Burgos as witness. They were joined by Executive Vice President for Branch Banking Joselito P. Gutierrez and First Vice President for North NCR Branches Marilou L. Villafranca.
Also present were City Legal Officer Atty. Genaro Jose Emeterio S. Moreno, Jr., OIC of the Treasury Department Ma. Jazmin A. Talegon, City Accountant Maria Lourdes R. Manlulu, Secretary to the City Mayor Bernardito C. Ang, and City Budget Officer Atty. Mary Grace Chua.
“Over the years, LANDBANK has worked closely with local government units nationwide and has remained the biggest provider of financial assistance and development financing to the sector because we believe that local government is the biggest, if not the most integral, link between the national government and their respective localities,” said President Borromeo.
The Bank’s OTLF allows qualified provinces, municipalities, and cities to avail of loans for projects that are listed in their Approved Local Development Plan or Annual Investment Program. This eliminates the inconvenience and associated transaction cost in having to secure loan approval for every single project to be implemented.
SRA, LANDBANK empower sugarcane farmers with expanded credit access
LANDBANK President and CEO Lynette V. Ortiz (3rd from left) and Sugar Regulatory Administration (SRA) Administrator Pablo Luis S. Azcona (4th from left) lead the signing of the Revised Implementing Rules and Regulations (IRR) of the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) on 16 December 2024 at the SRA Sugar Center Building, North Avenue Diliman, Quezon City. The streamlining of the Program's processes aims to provide more accessible and affordable credit support, in line with the Bank's commitment to empowering Filipino sugarcane farmers and boosting the country's agriculture sector. As of end-November 2024, LANDBANK has approved loans under the SCP-SIDA amounting to P1.32 billion, benefitting over 4,000 individual borrowers, including six block farms and four common service centers nationwide. Joining the event are LANDBANK Executive Vice President Ma. Celeste A. Burgos (2nd from left), Department of Agriculture Assistant Secretary for Logistics Daniel Alfonso N. Atayde (leftmost), together with SRA Board Members Ma. Mitzi V. Mangwag (2nd from right) and David Andrew L. Sanson (rightmost). ABOUT LANDBANK LANDBANK is the largest development financial institution in the Philippines promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the country, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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LANDBANK welcomes RCEF extension until 2031
LANDBANK welcomed the recent passage of Republic Act No. 11954 as amendment to the Rice Tariffication Law (RTL), and expressed full support for the extension of the Rice Competitiveness Enhancement Fund (RCEF) for another seven years, aimed to accelerate modernization in the rice sector and strengthen the resilience and productivity of Filipino rice farmers. As one of the implementers of RCEF in partnership with Department of Agriculture (DA), LANDBANK delivers credit assistance at low-interest rates with simplified processes to ensure accessibility for individual rice farmers and cooperatives in major rice producing provinces. Under the Expanded Rice Credit Assistance of the Rice Competitiveness Enhancement Fund (ERCA-RCEF), LANDBANK has extended P2.89 billion in loans to support rice production and post-harvest activities from 2019 to 2024. LANDBANK’s loans have benefitted 17,767 individual rice farmers and 270 cooperatives with more than 47,100 member-beneficiaries, which were channeled for palay production, milling and trading, re-lending, and the acquisition of farm machineries. Notably, 98% of LANDBANK’s direct borrowers under the program are individual rice farmers. “LANDBANK fully supports the RCEF extension towards strengthening our collective efforts to empowering Filipino rice farmers and boosting agricultural competitiveness. This significant step will bolster food security and sustainability, and the Bank stands ready to continue its active role in supporting this initiative,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK has remained faithful to its social mandate of promoting inclusive and sustainable development as the biggest credit provider to the agriculture sector servicing all components of the agriculture value chain. As of October 2024, the Bank has extended outstanding loans amounting to P769.68 billion in support of agriculture, fisheries and rural development under Republic Act No. 11901, otherwise known as “The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022.” LANDBANK’s investments in promoting countryside development of P769.68 billion represents 55.5% of the Bank’s total P1.387 trillion gross loan portfolio. The Bank has also assisted a total of 3.93 million small farmers and fishers nationwide through loans and various support interventions. ABOUT LANDBANK LANDBANK is the largest development financial institution in the Philippines promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the country, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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LANDBANK maintains top GOCC status, bags multiple governance awards
Director Virginia N. Orogo (5th from right) accepts the award on behalf of LANDBANK for being the top GOCC in corporate governance for 2023 from Executive Secretary Lucas P. Bersamin (6th from right), GCG Chairperson Atty. Marius P. Corpus (7th from right), and GCG Commissioners Atty. Brian Keith F. Hosaka (8th from right) and Atty. Geraldine Marie Berberabe-Martinez (rightmost) during the 2024 GCG Awards Ceremony on 25 November 2024 at the PICC Complex in Pasay City. Joining them are LANDBANK Executive Vice President Liduvino S. Geron (4th from right), Senior Vice President Atty. Roderick P. Sacro (leftmost), and Vice Presidents Atty. Myra-Lyn S. Peñalosa (3rd from right), May D. Arizabal (2nd from right), and Atty. Nikkolas G. Tolentino (9th from right). (Photo credits to GCG) LANDBANK was named the top government-owned and controlled corporation (GOCC) for the second consecutive year, earning the highest rating for corporate governance in 2023 from the Governance Commission of GOCCs (GCG). The state-run Bank garnered an unprecedented rating of 104% on the GCG’s Corporate Governance Scorecard (CGS), exceeding the rating ceiling of 100%. The CGS is an evaluation tool that assesses the corporate governance practices of GOCCs, using a methodology aligned with international standards. “Being recognized anew as the top GOCC for corporate governance reflects LANDBANK’s steadfast commitment to transparency, accountability, and excellence in public service. This recognition drives us further to continuously foster a culture of good governance, ensuring that we remain a reliable and trusted partner in promoting inclusive and sustainable growth across the nation,” said LANDBANK President and CEO Lynette V. Ortiz. Executive Secretary Lucas P. Bersamin, alongside GCG Chairperson Atty. Marius P. Corpus and Commissioners Atty. Brian Keith F. Hosaka and Atty. Geraldine Marie Berberabe-Martinez, conferred the award to LANDBANK during the 2024 GCG Awards Ceremony at the PICC Complex in Pasay City. LANDBANK Director Virginia N. Orogo received the award on behalf of the Bank, along with Executive Vice President Liduvino S. Geron, Senior Vice President Atty. Roderick P. Sacro, and Vice Presidents Atty. Myra-Lyn S. Peñalosa, May D. Arizabal, and Atty. Nikkolas G. Tolentino. LANDBANK also ranked among the top-ranking GOCCs in the 2023 GCG Performance Evaluation System (PES), which measures the achievements of GOCCs based on performance criteria, targets, and weighted indicators outlined in the Performance Scorecard. In addition, LANDBANK received a Sustainability Award for its outstanding commitment to sustainability values and practices. The Bank was further lauded for consistently achieving high scores in the "Responsibilities of the Board" section of the Corporate Governance Scorecard and for adhering to the Global Reporting Initiative (GRI) Standards in its Sustainability Reporting for calendar years 2021 to 2023. LANDBANK has long been committed to upholding the highest ethical standards while faithfully fulfilling its role in nation-building. In 2024, the Bank remitted a record-setting P32.119 billion in cash dividends to the National Government—the highest in the Bank’s history and among all GOCCs—to support the country’s priority infrastructure projects and socio-economic programs. From governance to sustainability, LANDBANK continues to set benchmarks for excellence in the public sector, solidifying its role as a key and reliable partner in empowering the country’s drive toward inclusive progress. ABOUT LANDBANK LANDBANK is the largest development financial institution in the Philippines promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the country, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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