LANDBANK and DPWH join hands for “Build, Build, Build” program

Public Works and Highways Secretary Mark A. Villar (third from left) and LANDBANK President and CEO Cecilia C. Borromeo (third from right) led the signing of the Memorandum of Agreement that will support the completion of the “Build, Build, Build” Program of the National Government. This was witnessed by DPWH Assistant Secretaries Eduardo S. Ramos (leftmost) and Maximo L. Carvajal (second from left), LANDBANK Executive Vice President Julio D. Climaco, Jr. (second from right), and LANDBANK Head of Property Valuation and Credit Information Department Assistant Vice President Buenaventura R. Del Rosario (rightmost). The Department of Public Works and Highways (DPWH) is tapping the appraisal services of the Land Bank of the Philippines (LANDBANK) to help speed-up the completion of projects that will support the “Build, Build, Build” (BBB) Program of the National Government. DPWH Secretary Mark A. Villar and LANDBANK President and CEO Cecilia C. Borromeo signed a Memorandum of Agreement (MOA) on October 14, 2019 at the LANDBANK Plaza in Malate, Manila. They were joined by DPWH Assistant Secretaries Eduardo S. Ramos and Maximo L. Carvajal, LANDBANK Executive Vice President for Corporate Services Sector Julio D. Climaco, Jr., and LANDBANK Assistant Vice President Buenaventura R. Del Rosario, Head of Property Valuation and Credit Information Department. “Today’s MOA signing is specific to our mandate of supporting National Government projects for the development of the country as a whole. We hope that our assistance can help ease this process, as we vigorously work together with DPWH in facilitating the acquisition of ‘Right-Of-Way’ sites to be used in government infrastructure projects,” said President Borromeo. Under the MOA, the Bank will appraise lands and properties affected by DPWH projects to determine its market value, which is one of the requirements for the Department to acquire its Right-of-Way (ROW) as provided under Republic Act 10752 or “The Right of Way Act.” The partnership agreement will cover 1,527 DPWH projects nationwide, including farm-to-market roads, bypass roads, and road widening, amounting to an estimated appraisal service fee of P495.78 million. According to DPWH, it has tapped the services of LANDBANK because of the adequate ability, expertise, and experience in property valuation and appraisal of the Bank’s licensed appraisers nationwide. When he assumed office, President Rodrigo R. Duterte initiated the BBB Program as its flagship economic project, which seeks to accelerate infrastructure spending and develop industries that will yield robust growth, create jobs and improve the lives of Filipinos. With an estimated budget of P8.4 trillion spread over six years, the Program is meant to usher in a “golden age of infrastructure,” bringing in more than 9,000 kilometers of roads; 2,000 bridges; 4,000 flood control projects, as well as new railways and airports. As the engineering and construction arm of the National Government, DPWH serves as the conduit for the implementation of the BBB Program. Meanwhile, LANDBANK heeds the National Government’s call for a concerted effort among its agencies to expedite the completion of national development projects.

LANDBANK supports lifeblood of community in Zamboanga Sibugay

GARBEMCO manages a rubber plantation in Goodyear, Kabasalan, Zamboanga Sibugay and is currently one of the major rubber producers in the area. For a community of 312 Agrarian Reform Beneficiaries (ARBs) in Kabasalan, Zamboanga Sibugay, a 1,000-hectare plantation of rubber trees is the primary source of income and livelihood. These ARBs have established a profitable system of maintaining the rubber trees, gathering produce and selling them, thanks to the organization they formed in 1992 – the Goodyear Agrarian Reform Beneficiaries Multi-Purpose Cooperative (GARBEMCO). The Cooperative itself generates employment in the community. In 2018, GARBEMCO provided jobs to 321 individuals. They harvest around 600 bales of crumb rubber per week, which are packed at 33.33 kilos per bale. GARBEMCO sells these bales at P60 per kilo, mostly to the local market, and some to areas in Cebu and Cagayan de Oro. According to GARBEMCO General Manager Lilia Manuel, the rubber plantation has been a profitable venture for the Co-op, as supplemented by other businesses including credit operations, fishpond operations, abaca production, handicraft making, consumer store, rice field rental, rice milling and trading, and hauling services. To help the Co-op further enhance its business, LANDBANK approved a new loan on September 17, 2019 to finance its working capital requirement for rubber production, rice milling and trading, consumer store, and fishpond and abaca production. Through the years, LANDBANK has been supportive of GARBEMCO’s endeavors as the growth of the Co-op redounds to the benefit of its ARB members. GARBEMCO and LANDBANK’s relationship can be traced back to 1995. The Co-op was still in its early years and was suffering from low production due to hectares of senile rubber trees. When the Bank extended an agricultural production loan, the Cooperative was able to rehabilitate its plantation and managed to transcend the challenges in its operations. Another loan was extended to GARBEMCO in 2012, which the Co-op used for replanting purposes covering a total area of 238 hectares. This helped the Co-op further grow its rubber business. From being besieged by various problems, the Cooperative has now grown and is reaping the rewards of sound operations. Apart from making the necessary reorganization in the management team, it also made efforts to improve its operational capacity through trainings on risk and capacity building, among others, under the supervision of the LANDBANK Countryside Development Foundation, Inc. GARBEMCO General Manager Manuel said, “We are grateful to the Land Bank of the Philippines for the financial and technical assistance provided to our Cooperative to enhance and strengthen our operation. Looking forward to more fruitful years of partnership because LANDBANK indeed helped us grow!” As the Bank aggressively expands its retail lending programs to provide farmers and fishers with direct access to credit, it continues to channel financing support to the sector through partner conduits, such as farmers’ and fishers’ cooperatives, irrigators’ associations, and countryside financial institutions. For more information on LANDBANK’s lending programs, visit www.landbank.com or the nearest LANDBANK Lending Center.  

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SURE Aid Program of DA and LANDBANK reaches palay farmers in Bulacan

(Left photo) Rice Farmers from the province of Bulacan show their SURE Aid cash cards which contain P15,000 cash assistance from the Department of Agriculture and Land Bank of the Philippines. With them are (top row from left to right) LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron, DA Region 3 Chief Operations Officer Benjamin A. Baltazar, Bulacan Governor Daniel R. Fernando, LANDBANK President and CEO Cecilia C. Borromeo, Guiguinto Mayor Ambrosio C. Cruz, Bulacan Board Members Romeo V. Castro and Bernardo B. Ople, Jr., and Provincial Agriculturist Ma. Gloria SF. Carrillo. (Right photo) Governor Fernando and President Borromeo assist one of the SURE Aid beneficiaries in cashing out the grant at a LANDBANK mobile atm on site. MALOLOS CITY, Bulacan – The Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK) once again partnered for the distribution of the Expanded Survival and Recovery Assistance Program (SURE Aid) Cash Cards to almost 800 palay farmers in the Province of Bulacan last November 7, 2019 at the Pavilion Hiyas ng Bulacan Convention Center. Bulacan Governor Daniel R. Fernando and LANDBANK President and CEO Cecilia C. Borromeo led the launch together with Board Members Romeo V. Castro, Jr. and Bernardo B. Ople, Jr., Guiguinto Mayor Ambrosio C. Cruz, DA Region 3 Chief Operations Officer Benjamin A. Baltazar, Provincial Agriculturist Ma. Gloria SF. Carrillio, and LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron. The SURE Aid Program is the government’s initial relief response to palay farmers who are tilling one hectare of land and below, and are affected by the drop in the farm gate price of palay this year. From the initial allocation of P1.5 billion, the Program’s fund is now at P2.5 billion, to be given as loan assistance to rice farmers nationwide either directly or through DA-accredited service conduits. “Ang pagsasaka ay pundasyon ng sambayanan kaya ang pagbibigay suporta sa mga magsasaka ay tahasang nagpapatatag sa haligi ng ating lipunan,” said Governor Fernando. During the event, LANDBANK distributed pre-loaded LANDBANK SURE Aid Cash Cards containing the P15,000 loan assistance to all qualified farmers from 20 cities and municipalities in Bulacan. The one-time, zero-interest, no collateral loan is payable up to eight years. “Makakaasa po kayo na patuloy na pinalalakas ng LANDBANK ang suporta para sa inyo. Sa pakikipagtulungan sa DA, DAR, sa lokal na pamahalaan ng Bulacan, at iba pang mga ahensiya ng pamahalaan, sama-sama po nating isulong ang kapakanan ng bawat magsasaka dito sa Bulacan at sa buong bansa,” said President Borromeo. To complement this effort, LANDBANK has recently launched the “PAlay aLAY sa Magsasaka ng Lalawigan" (PALAY ng Lalawigan) Program which will lend to Provincial/City/Municipal governments of rice-producing provinces to help them procure palay produced by local farmers. The Program also aims to supplement the procurement activities that will be undertaken by the National Food Authority. The Bank has initially earmarked P10 billion to fund the Program. Eligible LGUs may avail of working capital loans for the procurement of palay at 2% per annum. The Bank shall also extend term loan for the acquisition of farm machineries and equipment (post-harvest facilities), and other rice-related projects at considerable terms.

Palay farmers among first recipients of loan assistance in Mayantoc, Tarlac

(left photo) Mayantoc Mayor Julie P. Icmat (2nd from right) and LANDBANK Branch Banking Sector Head Executive Vice President Joselito P. Gutierrez (rightmost) present palay farmers (L-R) Virginia Gabriel, Arnold Teodoro, and Tirso Sion as the first to avail of the ACEF Loan Program in Mayantoc. (right photo) Meanwhile, Mr. Iggy Castro (3rd from left), owner of Iggy Castro Hardware, is introduced as LANDBANK’s Agent Banking Partner in Mayantoc. They are joined by LANDBANK’s Corporate Banking Group Head Senior Vice President Ma. Celeste Burgos (2nd from right), and Central Luzon Branches Group Head First Vice President Sylvia C. Lim (rightmost). MAYANTOC, Tarlac – Small farmers of palay in this municipality were among the first availers of the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program offered by Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA). During LANDBANK’s Financial Inclusion (FI) Forum held here last October 19, 2019 and attended by more than 500 participants, 80% of whom were small farmers,  palay farmers Virginia Gabriel, Tirso Sion, and Arnold Teodoro were recognized as the first loan availers of the ACEF. “Nagpapasalamat po ako sa LANDBANK dahil malaking tulong pinansyal ang naibigay nila sa akin. Malaking tulong po ito bilang puhunan at budget sa aking pagtatanim,” said Virginia. ACEF is a special purpose fund which aims to increase the productivity of farmers and fishers, their cooperatives and associations, as well as micro, small, and medium enterprises (MSME) by financing their farming needs such as acquisition and establishment of production, postharvest and processing machineries, equipment and facilities, farm inputs, and improvements. Launched in 2016, the FI Forum is an initiative of LANDBANK which aims to serve unbanked communities in the country through a half-day forum dubbed “Ipon at Kabuhayan Para sa Ating Kababayan.” The event was led by Mayantoc Mayor Julie P. Icmat, LANDBANK Branch Banking Sector Head Executive Vice President Joselito P. Gutierrez, Corporate Banking Group Head Senior Vice President Ma. Celeste Burgos, and Central Luzon Branches Group Head First Vice President Sylvia C. Lim. “Through the Financial Inclusion Forum, LANDBANK aims to bring its products and services closer to the unbanked and underserved communities. We are more than willing to serve the banking needs of the citizens of Mayantoc and finance the farming needs of the local farmers and fishers, to help improve their income and livelihood,” said LANDBANK Executive Vice President Gutierrez. Modules on financial literacy and LANDBANK’s products and services, particularly its lending programs, were also presented during the forum to help farmers manage their finances properly. Also introduced during the same event was LANDBANK’s Agent Banking Program where Iggy Castro Hardware, owned by Mr. Iggy Castro, was presented as the Bank’s Agent Partner in Mayantoc. The LANBANK Agent Banking Program provides the public with basic banking transactions such as Point-of-Sale (POS) cash-out, prepaid card sale, card reload/card refund/withdrawal, balance inquiry, and bills payment. Through partnerships with client cooperatives, associations, small and medium enterprises (SMEs), and private entities, the Program is targeted to further expand the Bank’s reach in remote and unbanked areas without bank presence. Mayantoc is the 6th stop of the FI Forums this year. A total of 3,752 farmers and fishers have already participated in all six sites of the FI Forums, which include Sto. Niño, Cagayan; Rizal, Palawan; Libacao, Aklan; Aloguinsan, Cebu; and Las Nieves, Agusan del Norte. The last two FI Forums for this run will be held in Claveria, Misamis Oriental and Polillo Island, Quezon.

Farming family reaps success from mechanized, innovative farming

Left photo: Now heavily involved in the family business, Arjay Vasquez encouraged his father to invest in mechanization. Right Photo: Husband and wife Romeo and Josefa Consuelo Vasquez showcase their innovative farming technique of growing seeds on trays before they are transplanted to the prepared field. Born to a landless tenant farmer in San Mateo, Isabela, Romeo Vasquez was determined to improve his life. He worked odd jobs to support himself through college, eventually earning an Agricultural Engineering Degree from the Central Luzon State University. After graduation, he worked double jobs in Manila as sales representative for a fertilizer company and as a jeepney driver at night. Then with a growing family of his own, he saved all his extra earnings and commissions to buy farm lots. But in 1986, he was diagnosed with a malignant tumor in his left leg, which had to be amputated. Although his doctor gave him a small chance of complete recovery from the cancer, Romeo refused to give in and instead worked harder for his family. While he remained employed in the fertilizer company, he started cultivating his one-hectare palay farm in his native San Mateo. However, the year 1991 dealt him with both a blessing and a setback – his doctor pronounced him cancer-free, but the fertilizer company he was working for closed down. This prompted him to go back to his farm and, with an additional two hectares mortgaged by local farmers, he created R.S. Vasquez Enterprises as a full-time palay trading, rice milling, and seed production business. Seeking to make quality rice accessible to ordinary consumers, they created their own Mestizo Rice variety, which became sought-after not only in Isabela, but also in neighboring provinces and in Metro Manila. The business gradually expanded, especially after the Land Bank of the Philippines provided credit lines in 2004, which the couple partly used to supply neighboring farmers with their own seed variety for free. In return, the farmers would sell them their harvest.   Technology-enabled farming His son, Arjay Rusell, who has been involved in the farm since 2012, encouraged Romeo to invest on mechanization and made sure that the company adopted the latest in rice production technologies. Romeo regularly attended agriculture-related training courses and linked up with the Department of Agriculture (DA) for technical assistance and continuing skills training, which exposed him to various agricultural innovations. R. S. Vasquez Enterprises also began the production of seeds grown in plastic trays containing combined pulverized soil and organic matter. The seedlings are regularly watered before being transplanted to the prepared field using mechanical transplanters. Because of these innovations, the DA named Engr. Vasquez as National Consultant in hybrid rice promotion to teach farmers proper farm waste management, inter-cropping, and other good practices in agribusiness. He has also won various awards through the years, including the Agricultural Entrepreneur Gold Award in The Outstanding Farmers of the Philippines in 2013 and the 3rd place under the Outstanding SME Agri-based Category of the LANDBANK Gawad SME 2018. The business has since then become a family affair, with their sons on top of introducing the latest farming technologies. They now farm several hectares of land and also advocate farm mechanization by helping set up mechanized farm learning centers that teach proper land preparation, farm site development, and irrigation. The Enterprise has also generated more than 80 jobs for the community through its palay trading, seeds production, goat raising, and vegetable production businesses. They recently opened a new agricultural supply business, where they also offer free consultancy on palay production activities and agricultural inputs.   Affordable Financing LANDBANK remains aggressive in providing credit support to farmers like Romeo Vasquez, in pursuit of its drive to help more farmers and fishers boost their production and increase their income. “As we make direct financing available to more small farmers and fishers nationwide, we also strongly encourage them to invest on mechanization and adopt other agricultural technologies, as this will significantly decrease production cost and improve their harvest,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK helps small farmers to engage in mechanization through its various credit programs. These include the Agricultural Competitiveness Enhancement Fund (ACEF), which helps small farmers and fishers (SFF), their cooperatives and associations, as well as Micro and Small Enterprises, in their crop production requirements and purchase of agri-machineries, equipment, and facilities. Another program that LANDBANK implements is the DA-funded Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), which farmers can tap for their rice production or acquisition of rice farm equipment or machinery.  This is available to rice farmers registered in the Registry System on Basic Sectors in Agriculture or RSBSA, and to DA-accredited cooperatives. The ACEF Lending Program and ERCA-RCEF now have interest rates fixed at only 2% per annum to make them more affordable for small farmers. The Bank also standardized at 5% per annum the interest rates for most of its direct lending programs for SFFs. These include the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, which provides loans to finance production of rice, corn, and high-value crops, as well as the acquisition of small farm implements.

Palay farmers in Cagayan receive P12M in aid

Agriculture Secretary Dr. William D. Dar (3rd from right), LANDBANK President and CEO Cecilia C. Borromeo (3rd from left), and Cagayan Gov. Manuel N. Mamba (2nd from right) present a ceremonial LANDBANK SURE Aid Cash Card to farmer Gerry Macapulay of Alcala, Cagayan (4th from left) during the launch of the SURE Aid Program in Cagayan. With them are 3rd District Board Member Rodrigo de Asis (extreme left), Municipal Agriculturist Eusebio Manuel (4th from right), LANDBANK Senior Vice President Filipina B. Monje (extreme right), and LANDBANK Assistant Vice President Victor A. Agorto (2nd from left). (Photo courtesy of DA-Communications Group).\ PEÑABLANCA, Cagayan – More than 800 farmers received a total of P12 million in loan assistance from the Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK) during the launch of the Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid) at the Capitol Gymnasium in this municipality. Agriculture Secretary Dr. William D. Dar and LANDBANK President and CEO Cecilia C. Borromeo led the distribution of LANDBANK SURE Aid Cash Cards pre-loaded with the one-time P15,000 loan assistance to 803 qualified farmers from the Municipalities of Piat, Tuao, Amulung, Iguig, Solana, Alcala, Enrile, and Peñablanca. The zero-interest, no collateral loan is payable up to eight years. They were joined by Cagayan Governor Manuel N. Mamba, DA Region 2 Regional Executive Director Narciso A. Edillo, LANDBANK Northern and Central Luzon Lending Group Head Senior Vice President Filipina B. Monje, and LANDBANK Cagayan Lending Center Head Assistant Vice President Victor A. Agorto. “The Province of Cagayan holds great potential in agriculture and aquaculture. As the provincial government, led by Gov. Mamba, nurtures this sector, LANDBANK is more than ready to provide the necessary developmental assistance to local industries, especially to small farmers, fishers and entrepreneurs,” President Borromeo said. A total of P30 million has been allocated under the SURE Aid Program for the estimated 2,000 farmers in the Province of Cagayan who are tilling one hectare and below. To date, some 41,000 palay farmers from 41 provinces nationwide have benefitted from the SURE Aid Program, with more than P600 million in loan assistance distributed under the Program. Meanwhile, the DA also distributed various agricultural assistance and projects to the provincial government of Cagayan during the event, which included P321 million in hybrid seeds (P195 million for rice and P126 million for corn), and P187 million in agricultural machineries, irrigation facilities, and infrastructures.

18-day Campaign to End Violence Against Women (VAW)

Land Bank of the Philippines is one with the Philippine Commission on Women (PCW) in the annual observance of the 18-Day Campaign to end VAW from November 25-December 12, 2019.

LANDBANK, City of Manila City sign P10-B loan to finance development projects

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.

LANDBANK offers BTr’s Premyo Bonds through online channel

LANDBANK Treasury and Investment Banking Sector Head Executive Vice President Carel D. Halog (right photo) discusses the convenience of purchasing the Premyo Bonds via the LANDBANK Link.BizPortal during its recent launch. The Premyo Bonds launch was led by (left photo) National Treasurer Rosalia V. De Leon (third from right), together with (from right to left) China Bank Capital Corporation President Ryan Martin I. Tapia, LANDBANK EVP Halog, DBP President and CEO Emmanuel G. Herbosa, BDO Capital and Investment Corporation Eduardo V. Francisco, and First Metro Investment Corporation President Rabboni Francis B. Arjonillo. As part of its support to the government’s thrust to make government securities more accessible to the general public, Land Bank of the Philippines (LANDBANK) makes available its online payment facility—Link.BizPortal—as a convenient way for its account holders to invest and purchase the Bureau of Treasury’s (BTr) on-going Premyo Bonds offering. LANDBANK announced this initiative during the launch of the Premyo Bonds last November 25, 2019 at the Bulwagan ng Diwang Pilipino, Development Bank of the Philippines (DBP) Head Office, Makati City. National Treasurer Rosalia V. De Leon led the launch together with top executives from partner banks in both private and public sectors, namely DBP President and CEO Emmanuel G. Herbosa; BDO Capital and Investment Corporation Eduardo V. Francisco; China Bank Capital Corporation President Ryan Martin I. Tapia; First Metro Investment Corporation President Rabboni Francis B. Arjonillo; and LANDBANK Executive Vice Presidents Carel D. Halog and Alan V. Bornas representing LANDBANK President and CEO Cecilia C. Borromeo. EVP Halog presented a step-by-step process in using LANDBANK’s Link.BizPortal for a more convenient way to invest in the Premyo Bonds. “This is a trailblazing effort to help reach the retail investors as part of the government’s financial inclusion efforts, through LANDBANK’s Link.Biz Portal,” EVP Halog said. Premyo Bonds are part of the government’s savings mobilization program designed to make government securities more accessible to retail investors. Proceeds from these will be used to fund government programs on education, housing, and healthcare, among others. “The Premyo Bonds is a public-private partnership for Filipinos to get into the habit of investing,” Treasurer De Leon said during the launch. For as low as Php500.00, interested individuals, cooperatives, provident funds, and retirement funds can invest in these bonds with a fixed 3% interest rate per annum. Investors also automatically qualify for a raffle entry for a chance to win as much as P1 million and other prizes such as condo unit or house and lot. Offer period will run from November 25 to December 13, 2019. For more information, visit https://www.treasury.gov.ph/premyobonds/.