LANDBANK makes loans more accessible, affordable for farmers, fishers

The Land Bank of the Philippines is taking steps to make its direct lending programs more accessible and affordable for small farmers and fishers (SFFs), in line with its aggressive drive to intensify support to the sector. “We understand that applying for loans can be intimidating, especially for small farmers and fishers, so we have started making basic improvements in our processes to make it easier for them to avail of loans,” said LANDBANK President and CEO Cecilia C. Borromeo. Among the basic enhancements which the Bank made is the simplification of the loan application form, which has been condensed into one document – from what used to be three separate documents (i.e. Application Form, Sworn Statement/Attestation, and Data Privacy Consent). Completing the form is also now more straightforward with mostly tick boxes, to make it easier for farmers and fishers. The promissory note which used to be a 14-page document has also been simplified and shortened to one page. Basic documentary requirements have likewise been trimmed down. SFF borrowers of the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, for instance, will only need to submit a loan application form, a simple farm plan, and barangay clearance. More affordable The Bank also made its programs more affordable by standardizing the interest rates at 5% per annum for most 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. Retail lending programs for SFFs that the Bank administers for the Department of Agriculture also now have interest rates fixed at 2% p.a. These include the ACEF Lending Program and the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) funded by the Sugar Regulatory Administration. Also available at an interest rate of 2% p.a. is the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). Under the Program, LANDBANK will lend up to P500 million annually for the next six years to rice farmers registered in the Registry System on Basic Sectors in Agriculture or RSBSA, and to DA-accredited cooperatives. For on-lending by cooperatives under ERCA-RCEF, interest rate is at 0% p.a., as long as effective pass-on rate to end borrowers is not higher than 6% p.a. Faster Processing of loan applications is also quicker – with average turn-around time of just one day as against the maximum 10-days commitment to the Governance Commission for GOCCs. This is provided that the borrower submitted complete documents and credit/background investigation is favourable. “This is just the beginning as we are actively looking for ways to further improve the loan application process for our farmer and fisher borrowers. Through these efforts, we hope to encourage them to go to LANDBANK instead of borrowing from informal lenders who charge significantly higher rates,” Borromeo added.

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LANDBANK brings financial inclusion and banking services to Las Nieves, Agusan del Norte

(Top photo) Agusan del Norte Gov. Dale Corvera (7th from left) and LANDBANK President and CEO Cecilia C. Borromeo (8th from left) lead the ceremonial awarding of ACEF loans to palay farmer Agapito A. Bacalso Sr. (5th from right) and corn farmer Violita T. Prandas (4th from right) during the LANDBANK Financial Inclusion Forum in Las Nieves, Agusan del Norte attended by more than 600 small farmers (lower photo). Also introduced during the program was Baug CARP Beneficiaries MPC as the Bank’s Agent Banking Partners in Las Nieves, led by General Manager Luxmi Auxillo (5th from left). Joining them are Las Nieves Mayor Avelina Rosales (9th from left), Vice Mayor Larry Bautista (6th from left), and LANDBANK officials led by Branch Banking Sector Head EVP Joselito Gutierrez (3rd from left), Mindanao Lending Group Head FVP Charlotte I. Conde (2nd from left), East Mindanao Branches Group Head FVP Camilo C. Leyba (rightmost), and CARAGA Lending Center Head Department Manager Linbert Fajunio (leftmost). LAS NIEVES, Agusan del Norte – For most residents of this 2nd class municipality in the northern part of the province, farming and fishing has been the way of life for its close to 30,000 residents, with the nearest banks and financial institutions still two hours away from the nearby cities of Bayugan and Butuan. Las Nieves is one of the country’s 536 cities and municipalities out of 1,634 that have remained unbanked according to the 2017 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas (BSP). This year, it is one of eight municipalities where Land Bank of the Philippines (LANDBANK) is launching its Agent Banking Program, which will provide 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, LANDBANK’s Agent Banking Program is targeted to further expand its reach in remote and unbanked areas without the Bank’s presence. During LANDBANK’s 5th Financial Inclusion (FI) Forum for 2019 here last October 12, 2019, the Bank formally introduced the Baug CARP Beneficiaries MPC (BCBMPC) as its first Agent Banking Partner in Las Nieves. Launched in 2016, and now on its fourth year run, the half-day forum, dubbed “Ipon at Kabuhayan para sa ating Kababayan,” gathered more than 600 attendees, majority of whom are farmers and agrarian reform beneficiaries (ARBs). “This is part of LANDBANK’s efforts in bringing our products and services closer to the countryside. With this campaign, we hope to uplift the lives of our fellow Filipinos, particularly the small farmers and fishers, and their families, who are in dire need of financial support for their agricultural livelihood activities,” said LANDBANK President and CEO Cecilia C. Borromeo. BCBMPC started as an association of small fishers of shrimps and crabs in 1987. By 1995, they were officially recognized by the Department of Agrarian Reform (DAR) as an ARB-cooperative with 110 members. They were first granted a production loan by LANDBANK on October 12, 1998. And exactly 21 years later, on October 12, 2019, LANDBANK has now partnered with BCBMPC as the Bank’s Agent Banking Partner in Las Nieves under the Agent Banking Program. The Cabadbaran City-based cooperative now boasts of 20,000 coop members, with total assets of P700 million. The LANDBANK FI Forum is an initiative of the Bank in line with its financial inclusion thrust of serving unbanked communities across the country. Since its launch, LANDBANK has helped bring over 10,000 underserved Filipinos under the umbrella of formal financial services from 28 municipalities. Las Nieves is the 5th stop of the FI Forums this year. A total of 3,252 farmers and fishers have already participated in the first five areas of the FI Forums namely, Sto. Niño, Cagayan; Rizal, Palawan; Libacao, Aklan; and Aloguinsan, Cebu. FI Forums will also be conducted in Mayantoc, Tarlac; Claveria, Misamis Oriental; and Polillo Islands, Quezon within the year. During the event, LANDBANK featured modules on financial literacy to help farmers improve their income through the proper management of finances, as well as Bank products and services, particularly its direct lending programs for farmers. These programs include the Accessible Funds For Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs), the Agricultural Competitiveness Enhancement Fund (ACEF), and the Rice Competitiveness Enhancement Fund (RCEF). At the same time, BCBMPC received a ceremonial check from LANDBANK in the amount of Php200 million representing its loan from the Bank for relending to small farmers and fishers. Joining LANDBANK President Borromeo at the event were Agusan del Norte Governor Dale B. Corvera, Las Nieves Mayor Avelina S. Rosales, LANDBANK Executive Vice President for Branch Banking Sector Joselito P. Gutierrez, East Mindanao Branches Group Head First Vice President Camilo C. Leyba, Mindanao Lending Group Head First Vice President Charlotte I. Conde, CARAGA Lending Center Head Department Manager Linbert Fajunio, and Butuan Branch Head Department Manager Augustus Manuel E. Mantua. Meanwhile, farmers who availed of the ACEF loan program were also recognized during the event, namely Agapito A. Bacalso Sr. (palay production) and Violita T. Prandas (corn production).

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.