Small rice farmers now have an alternative market for their produce as state-owned Land Bank of the Philippines (LANDBANK) announced it has approved a total of P4.3 billion in loans to allow local government units (LGUs) to purchase palay from local farmers.
Under the Bank’s “PALAY ng Lalawigan” (PAlay aLAY sa Magsasaka ng Lalawigan) Lending Program, LANDBANK said it has so far approved loans to six (6) LGUs.
The PALAY ng Lalawigan Lending Program—officially launched in October 2019—is open to municipal, city and provincial governments of palay-producing provinces. Aside from loans for palay procurement, eligible LGUs may also use the fund to acquire farm machineries and post-harvest facilities, as well as finance other rice-related activities.
As of September 23, 2020, LANDBANK has approved loans for the Provincial Government of Nueva Ecija, City Government of Cabanatuan City in Nueva Ecija, Provincial Government of Isabela, Municipal Government of Alicia in Isabela, Provincial Government of Tarlac, and Provincial Government of Camarines Sur.
“We are encouraging our LGUs to avail of the LANDBANK PALAY ng Lalawigan Lending Program to bankroll their direct engagement in the local rice industry value chain. It will be a big help to our local farmers whose incomes may have been affected, in one way or another, by the fluctuating farmgate prices of palay,” said LANDBANK President and CEO Cecilia C. Borromeo.
The fund facility is LANDBANK’s answer to the government’s call to prop up the livelihood of rice farmers heavily affected by the seasonality of palay planting. Rather than sell to unscrupulous rice traders who offer very low prices, farmers can now sell their produce to the LGUs.
The loanable amount of qualified LGUs under the PALAY ng Lalawigan Lending Program shall be based on the requirement of the project but shall not be more than the Net Borrowing Capacity (NBC) of the LGU per Bureau of Local Government Finance (BLGF) computation/certification.
Short-term loan line and permanent working capital under the program bear a fixed interest rate of 2% per annum until December 31, 2022. Term loan, on the other hand, carries an interest rate of 4% per annum until the same period, and subject to re-pricing afterward.
For more information about the LANDBANK PALAY ng Lalawigan Lending Program, interested LGUs may contact the nearest open 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.
LANDBANK opens Himamaylan Branch-Lite in Negros Occidental
Himamaylan City Mayor Rogelio Raymund I. Tongson, Jr. (2nd from left) and LANDBANK West Visayas Branches Group Head First Vice President Delma O. Bandiola (3rd from left) led the inauguration of the new LANDBANK Himamaylan Branch-Lite in Himamaylan City, Negros Occidental. They are joined by (from left to right) Himamaylan City Vice Mayor Justin Dominic S. Gatuslao, LANDBANK Kabankalan Branch Head Dulce Joy J. Gayat, and LANDBANK Himamaylan Branch-Lite Head Melchor P. Genada, Jr. HIMAMAYLAN CITY, Negros Occidental – State-run Land Bank of the Philippines (LANDBANK) officially opened in this city the LANDBANK Himamaylan Branch-Lite on November 10, 2020, its 11th in the Province. This brings the number of LANDBANK’s branches and extension offices to 412 across all 81 provinces nationwide, complemented by 53 Lending Centers and 2,266 ATMs. The inauguration was led by Himamaylan City Mayor Rogelio Raymund I. Tongson, Jr. and LANDBANK West Visayas Branches Group Head First Vice President Delma O. Bandiola. They were joined by Himamaylan City Vice Mayor Justin Dominic S. Gatuslao, LANDBANK Kabankalan Branch Head Dulce Joy J. Gayat, and LANDBANK Himamaylan Branch-Lite Head Melchor P. Genada, Jr. “The establishment of the LANDBANK Himamaylan Branch-Lite is an important development for our city. Thank you very much to LANDBANK for helping Himamaylanons and the rest of our city grow,” Mayor Tongson said. LANDBANK Himamaylan Branch-Lite will augment and further improve the efficiency of LANDBANK Kabankalan Branch, and will cater to the banking needs of Himamaylan City, and the Municipalities of Binalbagan, Hinigaran, and Isabela, covering a total of 89 barangays, including other government agencies. The Branch-Lite is also expected to bring LANDBANK’s banking services closer to around 5,000 Himamaylanon farmers; 3,600 fishers; and 5,000 beneficiaries of the Department of Social Welfare and Development’s (DSWD) Unconditional Cash Transfer (UCT) Program in the City. “We hope that LANDBANK’s presence in Himamaylan will further spur economic growth and agricultural production in the city. As their partner towards inclusive and sustainable development, LANDBANK is committed to assist Himamaylan City in achieving its full potential through our banking services,” said LANDBANK FVP Bandiola. The Branch-Lite is equipped with LANDBANK’s Digital Onboarding System (DOBS), a web application which simplifies the account enrolment process from 45 minutes to only 10-15 minutes, bringing banking services closer to the people of Negros Occidental. With the opening of LANDBANK’s Himamaylan Branch-Lite, LANDBANK now operates a total of 11 branches in Negros Occidental, complementing three (3) existing branches located in Bacolod City, and one (1) each in the cities of Cadiz, Kabankalan, Sagay, San Carlos, Silay, Sipalay, and Victorias. A total of 41 ATMs are also present in the province to facilitate fast and safe cash withdrawals and transfers. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).LEARN MORE
LANDBANK disburses P717M cash aid to more than 110,000 PUV operators
The Land Bank of the Philippines (LANDBANK) has started releasing cash grants totaling P717,333,500 or P6,500 each to 110,359 Public Utility Vehicle (PUV) operators, composed of jeepney and bus operators nationwide, under the Cash Subsidy to PUV Operators Program of the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB). Of the total amount disbursed, P716,826,500 was credited to the existing Pantawid Pasada Program (PPP) fuel cash card accounts of 110,281 Public Utility Jeepney (PUJ) operators on November 16, 2020. The remaining P507,000 was credited to the LANDBANK accounts of 78 Public Utility Bus (PUB) operators last November 17. “LANDBANK, in partnership with the DOTr and LTFRB, made it possible to quickly and safely distribute the cash subsidies to jeepney and bus operators who are challenged by the pandemic. We will continuously work with the transportation department to distribute the remaining cash aid to other beneficiaries the soonest time possible,” said LANDBANK President and CEO Cecilia C. Borromeo. The crediting of cash grants forms part of the Memorandum of Agreement (MOA) signed between LANDBANK, DOTr and LTFRB on October 12, 2020 for the distribution of one-time cash assistance to a total of 178,244 PUV operators through the PPP fuel cash cards, existing LANDBANK accounts, other bank accounts via InstaPay or PESONet, and over-the-counter payouts. Total beneficiaries of the cash subsidy program include operators of 120,000 PUJs, 24,374 UV Express units, 21,998 PUBs, 10,188 Filcabs, 1,259 minibuses, and 425 premium Point-to-Point (P2P) buses who have been heavily affected with the suspension in public transportation operations and reduced ridership due to COVID-19 safety protocols. The funds allocated for the program are part of the budget provided to the DOTr under Republic Act No. 11494 or the “Bayanihan to Recover As One Act.” For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).LEARN MORE
SEC taps LANDBANK as settlement bank for online payments
State-run Land Bank of the Philippines (LANDBANK) has been designated as the depository and financial settlement bank of the Securities and Exchange Commission (SEC) for online payments, in line with serving the growing demand for safe and contactless payment solutions. LANDBANK will ensure the efficient collection and settlement of payments made by SEC clients through PayMaya, including the timely remittance of fees due the Bureau of the Treasury (BTr). Under the new partnership, LANDBANK will maintain current and clearing accounts for SEC and BTr, respectively, to credit payments accepted and deposited by PayMaya through the LANDBANK weAccess facility. LANDBANK will also open a Guaranty Deposit account for PayMaya equivalent to the average total daily collection or in the amount agreed by both parties. The collaboration was formalized over a quadripartite Memorandum of Agreement (MOA) virtually signed by SEC Commissioner Kelvin Lester K. Lee, National Treasurer Rosalia V. de Leon, LANDBANK President and CEO Cecilia C. Borromeo, and PayMaya Philippines, Inc. Founder and CEO Orlando B. Vea on November 18, 2020. The MOA signing was witnessed by SEC Commissioner Javey Paul D. Francisco, BTr Deputy Treasurer Sharon P. Almanza, BTr Asset Management Service OIC-Director Eduardo Anthony G. Mariño III, LANDBANK Branch Banking Sector Executive Vice President Julio D. Climaco, Jr., and PayMaya Enterprise Head of Government Sector Marvin Santos. “LANDBANK welcomes this collaboration and will ensure the efficient settlement and remittance of SEC fees and other payments. Rest assured that LANDBANK is one with you in the continued delivery of public services, and boosting government collection rates toward revitalizing our economy,” LANDBANK President and CEO Borromeo said. In 2017, LANDBANK and SEC entered into an agreement to utilize LANDBANK’s Electronic Payment Portal (ePP) to provide a convenient and secure means of processing payments for the SEC iView and other transactional fees. As of October 30, 2020, the LANDBANK ePP has successfully facilitated for the SEC a total of 6,439 transactions amounting to P28.4 Million. In 2011, LANDBANK Branches also started processing registration applications by SEC applicants via the On-line Collection (On-Coll) facility. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).LEARN MORE