Goodyear Agrarian Reform Beneficiaries Multi-Purpose Cooperative (GARBEMCO) and Land Bank of the Philippines (LANDBANK) have been partners for rubber production in Zamboanga Sibugay since 1995, which helped sustain the co-op’s operations despite the ongoing COVID-19 pandemic, through business diversification. KABASALAN, Zamboanga Sibugay – For the past 28 years, Goodyear Agrarian Reform Beneficiaries Multi-Purpose Cooperative (GARBEMCO) has relied mainly on their 1000-hectare rubber and intercropped plantation to generate income for their 312 members who are Agrarian Reform Beneficiaries (ARBs). But the COVID-19 crisis early this year dealt their rubber trading business with a heavy blow. “GARBEMCO’s rubber trading halted during the pandemic. There were no traders, and manufacturing plants stopped operating. So the co-op had to focus on its other businesses to ensure income for its members,” said LANDBANK Zamboanga del Sur Lending Center Head Engr. Joselito S. Año. Determined to stay afloat, the co-op turned to palay production and trading, and the operation of their consumer store and fishpond, among other businesses, which it already established early on through financial assistance from Land Bank of the Philippines (LANDBANK). “Ang inspirasyon talaga namin para magpatuloy sa operasyon kahit na may pandemic ay yung aming pamilya at yung pamilyang nabuo namin sa co-op. Kaya nag-bayanihan talaga kami para lang masigurado na tuloy ang pinagkakakitaan at kabuhayan ng mga miyembro namin,” said GARBEMCO General Manager Lilia Manuel. LANDBANK and GARBEMCO’s partnership started in 1995 when the co-op availed of the Bank’s Agricultural Production Loan (APL) and Short Term Loan (STL) for the capital of their rubber production, and later on used it to diversify its businesses. “Ang laking tulong ng LANDBANK sa paglaki ng GARBEMCO. At marami pa kaming mga proyekto sa coop na gusto namin i-develop sa tulong pa rin ng LANDBANK, gaya ng agri-tourism through a hot spring resort,” GM Manuel added. With the relaxing quarantine restrictions in the province, GARBEMCO is now starting to engage anew in rubber trading. The harvests that they stored in their warehouse for the last 5 months, totaling to some 350 tons of rubber, are gradually becoming profitable again for their ARB members. LANDBANK remains steadfast in providing accessible financial channels to ARBs. As of June 2020, cumulative loan releases of two lending programs for ARBs and small farmers have already reached P583.35 million, under the Bank’s E-ARISE-ARBs (Expanded Assistance to Restore and Install Sustainable Enterprises for Agrarian Reform Beneficiaries and Small Farm Holders) loan program, and the CAP-PBD (Credit Assistance Program for Program Beneficiaries Development) Window III Program Extension. For more information about LANDBANK’s Lending Programs, interested borrowers 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.
READ MOREGet up to Php150 off on your Food Panda transactions when you pay with Visa. Pay with your Visa card on your next Food Panda purchase. Redemption Channel: Food Panda on the App Store or Play Store. Terms & Conditions 1. This offer is open to all food panda users, or those who download the Food Panda app and use a Visa card to pay for the first time. 2. Promo period is from August 10, 2020 to September 30, 2020. Offer is available on all Mondays to Thursdays of the promo period. 3. To avail of the offer, a Visa cardholder must have a food panda app. For new users, the food panda app may be downloaded free on the on the App Store or Playstore. 4. The food panda app user must register and use a Visa card for the first time in order to avail of the offer. 5. For a minimum purchase of at least Php500, the cardholder is entitled to Merchant Offers Resource Center Content Downloaded On: August 20, 2020 07:54 2 Php100 off on his first food panda purchase; The Php100 will automatically be provided to the cardholder upon check out using the qualified Visa card. 6. Upon successful purchase, the Visa cardholder will receive a Php50 voucher on the app within 1 business day. 7. The voucher can be used on a succeeding food panda transaction, provided the transaction meets the minimum purchase requirement of Php500, and be paid using the same qualified Visa card. 8. Vouchers expire on Sept 30, 2020. The offer and voucher are for single-use only, non-transferrable and not convertible to cash.
READ MORELANDBANK MOBILE BANKING APPLICATION (MBA) User Guide for LANDBANK Mastercard Credit Cardholders Table of Contents 1. Activate your credit card 2. View your account details 3. View your Statements of Account 4. Change the PIN of your credit card 5. Pay your credit card 6. FAQs ACTIVATE YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • Upon successful login, go to the More menu. Select Activate Credit Card. • Enter your credit card number and expiry date. Enter the OTP sent to your registered mobile number and click submit. Then confirm the activation of your credit card. VIEW YOUR ACCOUNT DETAILS • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • If your credit card is not yet registered, go to the More menu. Select Register1 Credit Card. Enter the OTP sent to your registered mobile number and click submit. Then confirm the registration of your credit card. • In the Accounts menu, click the Mastercard credit card account to view its details: ✓ Credit Limit ✓ Available Credit Limit ✓ Outstanding Amount with Instalment ✓ Outstanding Amount without Instalment ✓ Available Cash Limit ✓ Last Payment Date ✓ Last Payment Amount ✓ Statement Balance ✓ Statement Date ✓ Minimum Amount Due ✓ Payment Due Date ✓ Loyalty points 1To unregister, go to the More menu, then tap Unregister Credit Card. VIEW YOUR STATEMENT OF ACCOUNT • To view your latest statement of account (SOA), from the Credit Card Account Inquiry screen, select Statement of Account. • You may view your Statement of Account for the last three (3) months. CHANGE THE PIN OF YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID, and password, or Face ID or Biometrics, if supported by your phone. • Upon successful login, go to the More menu. Select Change Credit Card PIN. • Enter your date of birth, CVV and new PIN. • Enter the OTP sent to your registered mobile number and click submit. Then confirm the change in the PIN of your credit card. PAY YOUR CREDIT CARD • In the LANDBANK Mobile Banking app, tap the Mobile Banking icon then log in using your iAccess ID and password, or Face ID or Biometrics, if supported by your phone. • In the Payment menu, select LANDBANK MASTERCARD and the source account to be debited. • Enter your 16-digit credit card number and the amount to be paid. Then click submit. • Confirm the details before finalizing the transaction. • A screen shall appear to confirm that transaction has been successful and that receipt was sent to your mail. FREQUENTLY ASKED QUESTIONS Click here for the FAQs. For inquiries, you may contact our 24/7 Customer Care Hotline at (02) 8-405-7000 or 1-800-10-405-7000 (PLDT Domestic Toll Free Hotline), or send an email to customercare@mail.landbank.com.
READ MOREThe Land Bank of the Philippines (LANDBANK) continues to support the government program to put in new and safer public utility jeepneys (PUJs) on the street. As of August 31, 2020, LANDBANK has approved a total of P737.21 million in loans to 16 borrowers nationwide for the purchase of 407 modern jeepneys under the SPEED PUV SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Loan Program. Launched in March 2019, the LANDBANK facility offers financing to public transport cooperatives or corporations to help them make the shift to more efficient and safer vehicles. This is in connection with the Public Utility Vehicles Modernization Program (PUVMP), spearheaded by the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB), with the goal of making the country's public transportation system efficient boost passenger safety and prevent pollution by imposing an age limit for transport vehicles that allowed to operate. “The SPEED PUV Program is geared towards supporting our jeepney operators with accessible and affordable financing to purchase modernized jeepneys. Together with the DOTr and LTFRB, LANDBANK is committed to the improvement of the country's transport system and the convenient and safe mobility of the riding public,” said LANDBANK President and CEO Cecilia C. Borromeo. Modern jeepneys currently cost around P2.2 and P2.4 million. Unlike the clunky and noisy jeepneys, these are equipped with safety and convenient features such as curb-side passenger entrance and exit access, air-conditioning, closed-circuit television (CCTV) systems, and Global Positioning System (GPS), among others. LANDBANK’s SPEED PUV Program allows borrowers to loan up to ninety-five percent (95%) of the total acquisition cost of the PUJ, at an affordable interest rate of six percent (6%) per annum and payable up to a maximum of seven (7) years. LANDBANK is also offering a similar program for bus operators. The government bank recently launched a P3-billion program for the purchase of modern public utility buses, in support of the Metro Manila Bus Modernization Program of the DOTr-LTFRB. The loan facility is being offered through the Bank’s I-RESCUE for BUS Transport (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport) Lending Program. Interested borrowers 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.
READ MOREAnnie Suela, a watermelon farmer from Sibalom, Antique, availed of LANDBANK’s Agricultural Competitiveness Enhancement Fund (ACEF) loan program in 2019 to finance her watermelon production. With the existing quarantine protocols due to COVID-19, Suela once again relied on LANDBANK’s assistance to cushion the effect of the pandemic on her livelihood. SIBALOM, Antique – The strict quarantine imposed by the government due to the Covid-19 pandemic played a key role in a former overseas worker’s “refreshed” source of income. Just like everybody who became unsure of how things will turn out as a result of the lockdowns, watermelon farmer Annie Suela found herself in a predicament as to how she and her two children will survive. But thanks to Land Bank of the Philippines (LANDBANK), her two-hectare watermelon farm managed to survive despite the COVID-19 lockdowns. A former Overseas Filipino Worker (OFW) in Hong Kong, Suela heard over the radio about LANDBANK’s offer of low interest rates and simpler requirements for small farmers. “In December 2019, Ms. Suela was granted a credit line under the Agricultural Competitiveness Enhancement Fund (ACEF) loan program to finance the needs of her watermelon production. This also led to job generation for farm workers in their area who help prepare and till their farm,” said LANDBANK Iloilo Lending Center Head Inocentes Y. Ypanto, Jr. The ACEF fund facility, administered by LANDBANK, allows micro and small enterprises, farmers’ and fishers’ cooperatives and associations, as well as individual farmers to borrow up to 95 percent of total project cost. The funds can be used to purchase farm input and equipment or acquire/establish agri-based production and processing machineries, equipment and facilities. Suela recounted that she had a hard time keeping her watermelon farm afloat. With the limited transportation in the province resulting from the lockdown, Suela’s programmed deliveries to Manila and Boracay were disrupted. “Grabe yung experience namin dahil sa lockdown. Kahit ang dami naming pananim na watermelon, wala kaming kinikita dahil wala talagang bumibili at walang bumi-byahe sa mga terminal. (We experienced difficulties because of the lockdown. Nobody wants to buy our watermelon and any means of transporting our produce to the markets practically stopped),” Suela said. But these challenges did not break her spirit. Even with the lower profit and logistics issues, she continued to look for ways to sell her watermelons. On top of that, she also ensured that her outstanding balance with LANDBANK were paid in full to be eligible for a re-loan that she has been eyeing even before the pandemic. “Kahit na pandemic, sinikap ko talaga na makapagbayad kasi gusto ko mapanatili yung credit line ko sa LANDBANK para sa farm namin. Nag-focus kami sa pagbebenta ng mga vegetable para mabayaran yung balance namin. (Despite the pandemic, I tried my best to pay our loan obligation so I can maintain our credit line with LANDBANK. We focused on selling vegetables instead),” Suela explained. For Suela, ACEF was a welcome development for their financial needs compared to the usual unfair terms of illegal moneylenders. She is also is thankful for taking the leap with LANDBANK as it served as her safety net, especially during the strict lockdown period. “Malaki ang pasasalamat ko sa LANDBANK kasi ang bilis din ma-approve ng re-loan ko kahit may pandemic. Within four days, na-credit na agad sa account ko yung loan kaya may pang-capital na ulit kami. Kung wala ang LANDBANK, hindi ko na alam kung saan kami kukuha ng pangsimula ulit. Madali silang kausap at laging handang tumulong sa katulad kong small farmer. (I am thankful to LANDBANK because despite the pandemic, our re-loan was approved immediately. The loan amount that will be used for capital was credited to our account in just four days. I wouldn’t know where to get the funds to restart operations without LANDBANK. They are always willing to help small farmers like me),” Suela said. Suela and her family are slowly getting back on their feet as quarantine protocols nationwide are relaxed. Aside from the loan she availed from LANDBANK, she is also grateful for the financial literacy workshops and the technical trainings she received from the Bank and the Department of Agriculture to help her better manage the farm. She is also aiming for higher goals. Suela said she is interested in another loan program that will help her mechanize her farm and increase productivity of both the watermelon and vegetable farms. Interested borrowers of the LANDBANK ACEF loan program 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.
READ MOREState-run Land Bank of the Philippines (LANDBANK) has extended a total of P20.86 billion in outstanding loans to 1,081 cooperatives and farmers’ associations as of end-August, as it expressed its continued commitment to support the role of local co-ops in getting communities and the economy back on its feet amid the ongoing COVID-19 pandemic. During the virtual celebration for Cooperative Month this October at the House of Representatives on Monday (October 5), with the theme, “Koop Kalinga sa Pandemya," LANDBANK President and CEO Cecilia C. Borromeo assured cooperatives of readily available credit facilities with low interest rates to finance recovery projects and initiatives. The virtual event was hosted by the House Committee on Cooperatives Development, which is headed by Coop-NATCCO party-list Rep. Sabiniano Canama. “As your long-time partner in growth, we in LANDBANK reaffirm our unwavering commitment and solidarity to the noble objectives of the cooperative sector. We recognize the important role of co-ops in helping revive the local economy, with your presence in communities, especially in the countryside,” said President Borromeo. As of August 2020, LANDBANK said outstanding loans to the agriculture sector reached P224.66 billion, of which P20.86 billion was extended to farmers’ co-ops. This amount includes P428 million in loans provided to cooperatives under the Agricultural Competitiveness Enhancement Fund (ACEF) and the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) administered with the Department of Agriculture (DA), as well as the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) in partnership with the Sugar Regulatory Administration (SRA). The LANDBANK-managed ACEF aims to increase productivity of farmers and fishers by providing the necessary credit to farmers and fishers and their cooperatives and associations, and micro and small-scale enterprises, for the acquisition and establishment of production, postharvest, and processing machineries, equipment and facilities, farm inputs and improvement. A maximum of P5 million can be availed by farmer and fishers cooperatives, associations, and micro and small enterprises. The RCEF is mandated under the Rice Tariffication Law or Republic Act 11203 with a total of P10 billion to be allotted annually and will be incorporated under the General Appropriations Act to be used in boosting the agricultural productivity in the country and help the lives of farmers. Of this annual amount, P1 billion (P500 M per year for 2 years now) is allocated for credit which is being administered by LANDBANK. Meanwhile SCP-SIDA is funded by 15 percent (or about P300 million) of the annual P2-billion fund allocated for the development of the country’s sugar industry. President Borromeo said LANDBANK supports the government’s move to promote cooperatives and farmers’ associations—particularly those involved in the farming sector—as a means to achieve economies of scale and efficiency. Alongside extending loans, LANDBANK will also be providing financial literacy trainings to 220 micro and small co-ops from 92 unbanked municipalities under the FIT-Coop Program. Together with the Cooperative Development Authority (CDA), the program is designed to help improve the business operations and strengthen the capacity of cooperatives to access formal credit. Meanwhile, under the Bank’s SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Loan Program—which is implemented in partnership with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB)—LANDBANK continues to accept and process loan applications from transport cooperatives. As of August this year, total loans approved for transport cooperatives reached P356 million for the acquisition of 197 modern units. Last April, LANDBANK also launched the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19) Lending Program for cooperatives that offers additional credit and loan restructuring under more flexible terms and conditions. “Once again, rest assured that LANDBANK stands shoulder to shoulder with you–our partners in cooperativism. Together, let us work our way to a new normal that promotes greater cooperation, resilience and sustained economic growth for one and all,” President Borromeo added. Interested borrowers 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.
READ MORELANDBANK recently increased to P20 billion the fund available for local government units (LGU) to help revitalize their economies affected by the lockdowns imposed against the Covid-19 pandemic. The state-owned Bank’s RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program—launched in July this year— was provided an initial fund of P10 billion to support provincial, city and municipal LGUs in the implementation of their local economic recovery plans. “LANDBANK has long established a solid partnership with the LGU sector, and we recognize their critical role as a catalyst in bringing sustainable development in their respective localities. Now more than ever, let me underscore our continued commitment to support all LGUs in revitalizing the local economy one town, one city, and one province at a time,” said LANDBANK President and CEO Cecilia C. Borromeo. In a virtual program of the Union of Local Authorities of the Philippines (ULAP) entitled, “#FORWARD Strategy Dialogue Series on Rekindling Local Economic Growth,” Borromeo shared that LANDBANK is gearing up to finance more LGU projects with lower interest rates. As of October 2, P4.37 billion in loans have been approved for 25 LGUs, while another P17.6 billion for 34 LGUs are currently being processed for approval under the RISE UP LGUs Program. The facility has a fixed interest rate of 4 percent per annum until December 31, 2022. In terms of total loans to the LGUs, Borromeo said that as of September 15, 2020, outstanding loans have reached P51.5 billion, covering 43 provinces, 81 cities, and 502 municipalities. Under Republic Act 11494 or the “Bayanihan to Recover as One Act,” the Bank has also been allotted a P1-billion interest subsidy for new and existing loans secured by LGUs. Hosted by ULAP National President and Governor Dakila Carlo E. Cua, the virtual program forms part of the dialogue series focused on “putting fiscal order in place for local economic recovery.” Featured resource speakers included Department of Finance (DoF) Secretary Carlos G. Dominguez III, Department of the Interior and Local Government (DILG) Undersecretary Epimaco V. Densing III, DoF Assistant Secretary Antonio G. Lambino II, Bureau of Local Government Finance (DOF-BLGF) Executive Director Niño B. Alvina, and Development Bank of the Philippines (DBP) President and CEO Emmanuel G. Herbosa. In addition to providing financing, LANDBANK also serves the growing needs of LGUs for more accessible, safe, and convenient electronic banking channels. As of August, a total of P219.3 million in Real Property Taxes, Real Estate Taxes, and business permit payments from 110 LGUs were collected and facilitated through the LANDBANK Electronic Payment Portal and Express Payment System. As a depository bank, LANDBANK is serving all 146 cities and 81 provinces in the country. 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).
READ MOREThe Department of Transportation (DOTr), alongside its attached agencies, the Land Transportation and Franchising and Regulatory Board (LTFRB) and the Philippine National Railways (PNR), will roll out with the Land Bank of the Philippines (LANDBANK) six (6) programs designed to modernize the country’s transportation systems and services. The programs are the North-South Commuter Railway Extension (NSCR-Ex) Appraisal Project, Resettlement Action Plan Entitlements Distribution Mechanism, Distribution of Cash Subsidy for Operators, Automatic Fare Collection System–Pilot Production Testing, Support Package for Environment-friendly and Efficiently-Driven PUV (SPEED PUV) Program, and the Interim Rehabilitation Support to Cushion Unfavorably-affected Enterprises by COVID-19 for Better Urban Services (I-RESCUE BUS) Transport Lending Program. The collaboration was formalized through a virtual Memorandum of Agreement (MOA) signing ceremony led by DOTr Secretary Arthur Tugade, LTFRB Chairman Martin Delgra III, PNR General Manager Junn Magno, and LANDBANK President and CEO Cecilia Borromeo held on October 12, 2020. “LANDBANK welcomes the opportunity to contribute to the continuous development of our transportation systems, in line with providing commuters with more efficient, safe, and comfortable modes of transport. Our combined efforts will fast-track the delivery of much-needed programs and services for the sector amid the ongoing pandemic,” LANDBANK President Borromeo said. As part of the partnership, LANDBANK will appraise properties that will be affected by the construction of the NSCR-Ex Project, which aims to expand the existing mass transportation in Metropolitan Manila and adjacent areas, and alleviate serious traffic congestions in and around the capital city. The appraisal will cover 15 clustered sites, composed of five (5) sites in Bulacan and Pampanga, and 10 sites in Manila, Makati and Laguna. Under the NSCR-Ex Project, LANDBANK will also serve as the distribution agent of the Resettlement Action Plan Entitlements Distribution Mechanism. The Bank will deliver cash entitlements to eligible residents and other Project-Affected Persons (PAPs) living along the railway right-of-way from Malolos in Bulacan to Clark in Pampanga, as well as from Tutuban in Manila to Calamba in Laguna. In coordination with the LTFRB, LANDBANK will distribute cash subsidy to PUV operators who have been adversely affected by the suspension in public transportation operations and reduced ridership due to COVID-19 safety protocols. The Bank will facilitate the cash release through the Pantawid Pasada Program (PPP) fuel cash cards, existing LANDBANK accounts, other bank accounts via InstaPay or PESONet, and over-the-counter payouts. The DOTr and LANDBANK will also jointly conduct the Pilot Production Testing of the Automatic Fare Collection System (AFCS), which will utilize convenient Mastercard EMVCo-compliant contactless cards as payment instruments in public transport modes. The testing will verify the entire AFCS under a real-time operating condition in preparation for its full and commercial implementation. Finally, a MOA was formalized to ensure that the plans, procedures, and rules of LANDBANK’s transport lending programs—the SPEED PUV Lending Program and IRESCUE BUS Transport Lending Program—are aligned with the DOTr’s Public Utility Vehicle Modernization Program (PUVMP). The SPEED PUV Program offers financing to public transport cooperatives or corporations to help them make the shift to more efficient and safer vehicles. As of August 31, 2020, LANDBANK has approved a total of P737.21 million in loans to 16 borrowers nationwide for the purchase of 407 modern jeepneys. Meanwhile, LANDBANK has allotted an initial P3 billion for the recently launched IRESCUE BUS Transport Lending Program to support public transport cooperatives and corporations, who are members of the consortium selected for the Metro Manila Bus Modernization Program, for the purchase of modern public utility buses. Qualified enterprises may borrow up to eighty percent (80%) of the acquisition cost of the vehicle, at an affordable fixed interest rate of 5% per annum for the first three (3) years—payable up to a maximum of seven (7) years, inclusive of the two-year grace period on principal. Interested borrowers 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.
READ MORESmall 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.
READ MOREPhilippine Deputy Consul General Emil Fernandez (2nd from left) receives the Karlsruhe Sustainable Finance Award conferred to Land Bank of the Philippines (LANDBANK) for “Sustainable Finance” from (left to right) Mr. Jochen Ehlgoetz, CEO of Technology Region of Karlsruhe, Mr. Tom Hoyem, Member of the City Council of Karlsruhe, and Mr. Arshad Rab, CEO of the European Organization for Sustainable Development. State-run Land Bank of the Philippines (LANDBANK) was presented with a Certificate of Merit for “Best Innovation in Financial Services” in this year’s Karlsruhe Sustainable Finance Awards held in Karlsruhe, Germany last September 30, 2020. This is the 8th consecutive year that LANDBANK has received the honor since 2013. LANDBANK was cited for its successful implementation of the “Enhanced Environmental and Social Safeguards Relative to Credit Delivery,” an innovative initiative for conducting environmental and social due diligence (ESDD) for all Bank-financed projects and accounts. This is to ensure compliance to applicable environmental and social laws and regulations, which in turn minimizes credit risks. The policy enhancement covers identification, assessment, mitigation, monitoring of environmental, climate change, and social risks, aspects, impacts, as well as economic, environmental and social benefits of projects financed by LANDBANK. “LANDBANK continues to make strides in embedding environmental and social sustainability into our policies and organizational culture. By promoting sustainable financing, we encourage our clients to adopt similar approaches in their own business strategies and operations, while ensuring that they comply with local and international environmental regulations,” said LANDBANK President and CEO Cecilia C. Borromeo. Deputy Consul General Emil Fernandez of the Philippine Consulate General in Frankfurt received the award on behalf of LANDBANK. LANDBANK’s award-winning Administrative Order No. 26 (Enhanced Environmental and Social Safeguards Relative to Credit Delivery) expands the Bank’s Environmental Due Diligence (EDD) system, which previously only conducted environmental impact assessments for every project that the Bank finances—from loan packaging up until the loan is fully paid—coupled with an environmental risk rating. All Bank-financed projects are vetted as to its potential environmental impacts, provided recommendations for possible environmental management, and measured and monitored for compliance. The Bank’s comprehensive compliance management system ensures that risks associated with penalties and legal issues due to environmental violations are minimized. The resulting environmental compliance report on the environmental performance of its clients keep the Bank informed of potential risks, while providing opportunities for clients to put in place mitigation mechanisms that reduce adverse impacts on their project operations. Since the EDD was implemented, environmental and social risks are mitigated, as it brought awareness on the importance of compliance to environmental and social laws/regulations which benefitted both stakeholders and the host community. As a result, natural habitats, physical cultural property or heritage sites, and protected areas are preserved. A total of 4,728 project and account assessments have been conducted since the EDD system was first implemented in 2004 up to December 2019. Of this number, 461 were accomplished using the enhanced ESDD tool under LANDBANK Administrative Order No. 26. The Global Sustainable Finance Awards in Karlsruhe honors financial institutions and related organizations with significant contributions to the field of sustainable banking and finance. It is organized by the European Organisation for Sustainable Development (EOSD), tasked to develop strategies, programs and initiatives, and undertake projects that contribute to the implementation of the EU Strategy for Sustainable Development, aimed at promoting sustainable economic development and environmental protection.
READ MOREAs of Fri, April 25, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.25 | 56.75 |
| JPY | 0.388752 | 0.403776 |
| EUR | 63.163815 | 65.607824 |
| GBP | 73.988728 | 76.851588 |
| HKD | 7.223177 | 7.761414 |
As of Thu, April 24, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.557366 |
| Money Market Fund | 1.310646 |
| PERA Money Market Fund | 1.023632 |
| Medium-Term Bond Fund | 2.470334 |
| Bond Fund | 2.024273 |
| PERA Bond Fund | 1.198883 |
| Balanced Fund | 2.585336 |
| Growth Fund | 2.562157 |
| Alpha Equity Fund | 2.96484 |
| Blue Chip Equity Fund | 0.954534 |
| Equity Fund | 0.773163 |
| High Dividend Equity Fund | 1.002938 |
| US$ Money Market Fund | 1.431822 |
| Global $ Fund | 1.518293 |
| Money Market Plus Fund | 1.223015 |
