FIND US

LANDBANK-funded bridges, hospital help boost Ilagan City’s dev’t


March 23, 2023

(left photo) The LANDBANK-financed Baculud Overflow Bridge in Ilagan City, Isabela, allows for easier and safer transportation for residents and vehicles from the City’s northeastern barangays to its Centro Poblacion Barangay Cluster. (right photo) From having a small infirmary solely catering to the medical needs of Ilagueños, the Ilagan LGU also tapped LANDBANK to fund the construction of the City of Ilagan Medical Center (CIMC) building to widen healthcare access in the City.

ILAGAN, Isabela – From being one of the poorest municipalities in Isabela over a decade ago, this first-class City now boasts of a vibrant and fast-growing economy driven by major infrastructure projects financed by the Land Bank of the Philippines (LANDBANK).

Under the leadership of City Mayor Josemarie L. Diaz, the local government unit (LGU) of Ilagan and LANDBANK maintain a strong partnership geared towards the development of the City, with a total loan exposure amounting to P3.5 billion.

“Talagang malaki ang naitulong ng LANDBANK sa amin. Halos lahat ng improvement sa Ilagan City ay dahil sa aming pakikipagtulungan sa LANDBANK,” said Mayor Diaz.

In support of Ilagan’s development plan, LANDBANK financed the construction of four essential bridges in the City, including the Baculud Overflow Bridge in Brgy. Baculud and the Cabisera 8 Overflow Bridge in Brgy. Santa Maria.

These two overflow bridges significantly increased the mobility of Ilagueños, who previously used boats and bamboo rafts to travel across rivers to reach other parts of the City. The bridges also improved the access of residents from remote barangays to basic and support services, such as to their local hospital and public market.

LANDBANK likewise financed the concreting of road networks in Ilagan City to enhance the connectivity between its 91 barangays, which is already 90% completed as of end-January 2023.

Built with street lamps and concrete drainage, the concrete road network has made transportation safer and more efficient even in remote areas, especially for farmers who previously struggled to transport their agricultural produce to the market.

Facilities for healthcare, recreation, and public services LANDBANK also supports the LGU’s priority projects to provide better healthcare and public services.

At the height of the COVID-19 pandemic in 2021, the LANDBANK-financed City of Ilagan Medical Center (CIMC) was opened to initially serve as an isolation facility for COVID patients. From having a small infirmary, the enhanced 100-bed CIMC now provides advanced medical services, such as endoscopy, radiology, and hemodialysis.

The hospital has already received three International Standardization Organization (ISO) Certifications for Quality Management System, Environment Management System and Occupational Health and Management System.



In 2007, LANDBANK approved a P65-million loan to fund the construction of Ilagan’s Municipal Hall – now a City Hall – in Brgy. San Vicente.


For the safety and convenience of its constituents and local government employees, LANDBANK likewise financed the construction of the then Ilagan Municipal Hall (now a City Hall) and multi-purpose barangay halls in the City.

Other projects of the LGU backed by the Bank include a sanitary landfill for sustainable waste disposal; a new public market that serves as a central hub for vendors; and daycare centers for children.

The Ilagan LGU also partnered with the Bank to finance the construction of recreational facilities in the City, including the new Ilagan Sports Complex, a local mall and hotel, as well as a multi-purpose commercial building, all of which generate significant revenue for the LGU.



The modern Ilagan Sports Complex funded by LANDBANK hosts national tournaments for various sports and houses a track and field oval certified by the International Association of Athletics Federations (IAAF).


P900 million of the LGU’s total loan will finance lot acquisition in the barangays of Alibagu, Marana 1st and Lullutan for various development projects, including the construction of 94 housing units in Alibagu. The loan will also be utilized for the expansion of the Ilagan City Hotel and Convention Center, as well as the establishment of CIMC’s Contagious Disease Building.

This will also fund the construction of a public market building in Brgy. Hacienda San Antonio and a bagsakan center with cold storage for agricultural products in Brgy. Marana 1st.

“Simula nung kami ay isang municipality pa lamang, nagtiwala na ang LANDBANK sa amin. Kasama namin ang LANDBANK na lumaki at lumago, at ngayon, we can already provide complete and quality services for the welfare of our people. Kaya malaki ang aming pasasalamat sa LANDBANK,” Mayor Diaz added.

With the help of LANDBANK, the LGU’s assets grew from P700 million in 2007 to P7 billion in 2022.

LANDBANK remains the biggest development partner of LGUs, in fulfilment of the Bank’s mandate to spur countryside development in stride with nation-building.

As of end-2022, the Bank’s outstanding loans to LGUs nationwide have reached P91.5 billion in support of local development projects, which include agri-related infrastructure, hospitals, schools, and utilities.

 


Other Stories

LANDBANK remains financially strong, regulatory compliant

LANDBANK reaffirms its financial strength and stability, following the Bank’s P50-billion contribution to the Maharlika Investment Fund (MIF), and remains fully committed to its mandate as a reliable partner to the national government’s inclusive development agenda. The state-run Bank has consistently met and exceeded the minimum requirements of the Bangko Sentral ng Pilipinas (BSP) for Capital Adequacy Ratio (CAR)—a critical benchmark of financial health—as it stays financially robust with no urgent need for additional capital. Earlier this year, LANDBANK remitted P32.119 billion in cash dividends to the National Government—the highest among all Government Owned and Controlled Corporations (GOCCs) and in the Bank’s history. This milestone reflects the Bank's sustained financial strength and ability to generate consistent revenues while fulfilling its developmental mandate. As of 30 November 2024, LANDBANK’s CAR remains at a healthy level of 16.42% which is well above the 10% regulatory threshold, further demonstrating the Bank’s resilience against financial and operational risks. Following the P50-billion seed capital allocation to the MIF in September 2023, LANDBANK’s CAR stood at 16.20%, remaining comfortably above regulatory requirements and reflecting the Bank’s commitment to financial stability. The Bank also clarified that regulatory relief was sought from the BSP as a proactive measure to maintain resilience. LANDBANK has consistently adhered to prudent financial management practices, effectively utilizing its resources to promote agriculture, fisheries and rural development, and empower key development sectors. 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.

LEARN MORE

From ‘Ad Man’ to ‘Mushroom Man’: Farmer cultivates success with LANDBANK’s support

Roderick Capalongan left his career in advertising in 2014 to venture into mushroom farming, and is now a leading supplier of mushrooms in his home town of Solano, Nueva Vizcaya, including Manila, Isabela, Cagayan Valley, Tarlac, and Pampanga. SOLANO, Nueva Vizcaya – Roderick Capalongan built a dynamic career in advertising, mastering project management, below-the-line communications, and complex campaign operations. But what started as a side hustle soon turned into his true passion—mushroom farming. Inspired by a fellow farming enthusiast, Roderick initially ventured into mushroom production to generate extra income for his family. However, what began as a small project soon became his full-time calling. In 2014, he left advertising behind to grow mushrooms on a 2-hectare farmland he inherited from his grandfather. Roderick named his own farm “Mushroom Man” and used recycled agricultural waste, such as rice straw, as substrate to grow oyster mushrooms. As demand grew, so did Roderick’s desire to scale up the business. In 2016, he found a reliable partner in Land Bank of the Philippines (LANDBANK) which stepped in with an initial loan of P300,000.00, giving Roderick the boost he needed to expand his operations.  “Salamat sa LANDBANK dahil palagi silang handang sumuporta sa akin at sa projects ko. Sa tulong nila, nakapagpatayo ako ng facilities at nakapag-expand ng farm ko,” said Roderick. Over the years, LANDBANK has extended a total of P6.25 million to support Roderick’s mushroom production, which covered the purchase of equipment and the construction of mushroom housing, and even the expansion to tilapia and catfish production. The Mushroom Man currently delivers fresh produce daily to market outlets in Nueva Vizcaya and Manila, as well as in the provinces of Isabela, Tarlac, Pampanga, Cavite and Cagayan Valley. Innovation meets sustainability Roderick adopted an integrated farming business model that combines mushroom production with tilapia fish farming to minimize farm waste, reduce operational costs, and promote resource efficiency.   One of his sustainable farm methods involve recycling mushroom spent—a byproduct of his mushroom production—to cultivate duckweeds as an alternative to artificial commercial fish feeds.  This recycling practice reduced the cost of his tilapia production by half and significantly increased his profits.  “Sa panahon ngayon, tumataas na ang presyo ng farm inputs, tulad ng tilapia feeds. Kaya kailangan maging resourceful para gumanda ang kita,” said Roderick.  During the COVID-19 pandemic, Roderick also expanded his product line to include processed mushroom products, which include siomai, crispy mushroom, mushroom spread, and chili paste, alongside organic fertilizers.  Roderick adopted an integrated farming business model that combines mushroom production with tilapia fish farming, wherein he uses discarded mushroom spent to produce duckweeds which serves as a natural alternative to fish feeds. A trailblazer in mushroom and integrated farming In recognition of his innovative practices and contributions to the local mushroom industry, LANDBANK conferred to Roderick the “Ulirang Magsasaka – Special Award for Integrated Farming” at the Bank’s Models of Excellence Recognition Initiative for Top Bank Clients (MERIT) Awards. Roderick and his wife, Sheila Capalongan, receive the special citation for integrated farming during the LANDBANK MERIT Awards in Malate, Manila. Roderick and his wife, Sheila Capalongan, receive the special citation for integrated farming during the LANDBANK MERIT Awards in Malate, Manila.  The MERIT Awards celebrated the Bank’s top development partners in the delivery of essential financial and support services in local communities nationwide.  Roderick’s farm has become the model mushroom farm in Nueva Vizcaya, attracting local and foreign visitors, including students, cooperatives and associations, to learn from his expertise about mushroom and integrated farming.  National agencies like Department of Science and Technology (DOST), Department of Agriculture (DA), Department of Agrarian Reform (DAR), and state universities also work closely with the farm to promote sustainable farming practices and enhance agricultural education.  Looking ahead, Roderick plans to build a farm school to train aspiring agri-entrepreneurs in mushroom production and elevate Nueva Vizcaya as a hub for oyster mushroom production. He likewise plans to train abroad to refine his skills and learn best global practices to help boost the local industry.  “We are planning to train sa ibang bansa para mag-uwi ng advanced technology at matuto ng modern practices for mushroom production. Naniniwala ako na kaya natin magkaroon ng globally competitive mushroom industry,” said Roderick.  A Journey from Campaigns to Cultivation Roderick Capalongan’s journey from the advertising world to agriculture is a testament to his adaptability to embrace change and passion to pursue his calling. With LANDBANK as his trusted partner, he continues to thrive—proving that success grows where passion and innovation meet. Through partnerships like these, LANDBANK is empowering farmers and Filipinos nationwide for a better future.  About LANDBANK LANDBANK is the largest development financial institution in the Philippines with the largest portfolio in support of agriculture, fisheries, and rural development. Promoting financial inclusion, digital transformation, and sustainable national development, the Bank is present in all 82 provinces in the county and is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.

LEARN MORE

LANDBANK leads P110-B syndicated loan to fuel the local power sector

PSALM President and CEO Dennis Edward A. Dela Serna (2nd from right), LANDBANK President and CEO Lynette V. Ortiz (rightmost), and DBP President and CEO Michael O. de Jesus (3rd from right) lead the ceremonial signing for the P110-billion syndicated loan for PSALM on 30 July 2024 in Quezon City, witnessed by Assistant Government Corporate Counsel Judge Basilia Serrano-Angeles (leftmost). Land Bank of the Philippines (LANDBANK) has extended the majority of the P110-billion syndicated loan facility to state-owned Power Sector Assets and Liabilities Management (PSALM) Corporation in support of strengthening and enhancing the competitiveness of the country’s local power industry.  LANDBANK committed to financing P60 billion of the total facility amount. The proceeds will be used by PSALM to augment its working capital requirements, refinance existing liabilities, and settle domestic contractual obligations. “LANDBANK has a long-standing history of supporting the National Government’s electrification initiatives, with our loan portfolio encompassing a wide range of energy-related projects. We will continue to support PSALM in addressing the energy needs of the country today and in the future,” said LANDBANK President and CEO Lynette V. Ortiz.  PSALM President and CEO Dennis Edward A. Dela Serna, together with LANDBANK President and CEO Ortiz and Development Bank of the Philippines (DBP) President and CEO Michael O. de Jesus, led the ceremonial signing for the Php 110.0 billion syndicated term loan facility agreement on 30 July 2024 in Quezon City. Assistant Government Corporate Counsel Judge Basilia Serrano-Angeles witnessed the event.  “We express our heartfelt gratitude to LANDBANK, DBP and OGCC for their continued support in attaining PSALM’s financial objectives. PSALM’s liability management program has presented significant challenges as we strive to fulfill our mandate of liquidating the financial obligations we have assumed. This syndicated loan provides additional financial support to PSALM, ensuring our continued progress and assist our asset management and privatization strategies,” said PSALM President and CEO Dela Serna. “With this loan, we are projecting a net reduction of PHP12.9 billion in our financial obligations for CY 2024,” he added.  LANDBANK and DBP acted as the Joint Lead Arrangers for the syndicated deal, with the DBP - Trust Banking Group as the Facility and Paying Agent, and the Office of the Government Corporate Counsel (OGCC) as the Transaction Counsel.  PSALM is a wholly-owned and controlled government entity mandated under the Electric Power Industry Reform Act (EPIRA) to take over the ownership of all existing generation assets of the National Power Corporation (NPC), independent power producer (IPP) contracts, real estate, and all other disposable assets, including the transmission business of the National Transmission Corporation (TransCo). The agency also manages the orderly sale and privatization of these assets with the objective of liquidating all of NPC's financial obligations in an optimal manner. LANDBANK has been a steadfast partner of PSALM since 2008, providing essential financing in support of its mandate under the EPIRA law. The Bank also continues to service the development requirements of the energy sector, including other industry players such as large oil companies, power producers, and distribution utilities.  ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.

LEARN MORE