Consistent with its goal to provide additional means for farmers to access credit assistance, Land Bank of the Philippines (LANDBANK) recently launched the nationwide implementation of the Sulong Saka Program which is designed to promote wider crop diversification, particularly for high-value crops. LANDBANK has allotted a total of Php 10 billion for the Program to help small farmers increase their production of high-value crops such as vegetables (highland, lowland, spices, legumes); fruits (mango, banana, pineapple); industrial crops (abaca, bamboo, coffee, cacao, rubber, oil palm); and alternative food staple crops (saba-cardaba, soybean, root crops). “The Sulong Saka Program is part of our aggresive efforts to intensify support interventions to the agriculture sector. With this new lending program, we are helping our farmers avail of more financial support to increase their crop yield and in turn, increase income for their families,” LANBANK President and CEO Cecilia C. Borromeo said. “At the same time, we want our farmers to consider engaging in high-value crop production to improve the country’s crop diversity, which is currently dominated by traditional crops like rice, corn, and coconut,” she added. Aside from promoting crop production, the Sulong Saka Program also supports projects that involve the processing and marketing of high-value crops. Farmers can apply for financial support for the establishment of nursery, budwood or mother and plant or parent clone gardens; new plantation, replanting, rejuvenation, and rehabilitation of old trees; post-harvest projects; as well as trading and export activities. Individual small farm holders can apply for the loan with an affordable interest rate of 5% per annum. Other eligible borrowers include small and medium enterprises (SMEs), cooperatives, farmer associations and organizations, large agribusiness enterprises and corporations, local government units (LGUs), non-government organizations (NGOs), and countryside financial institutions (CFIs). The Sulong Saka Program is a new addition to LANDBANK’s credit loan portfolio for farmers, which already includes the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, the Sikat Saka Program in partnership with the Department of Agriculture (DA), the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) funded by the Sugar Regulatory Administration, the Agricultural Competitiveness Enhancement Fund (ACEF), and the Rice Competitiveness Enhancement Fund (RCEF), among others. Interested borrowers may visit the nearest LANDBANK Lending Center or visit the official website at www.landbank.com, or contact the 24/7 customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 10800-10-405-7000, for more information.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (3rd from right) and Cooperative Development Authority (CDA) Chairman Orlando R. Ravanera (2nd from right) led the signing of the Memorandum of Agreement for the Financial Inclusion Through Cooperatives (FIT-Coop) Program that will support unbanked and underserved micro and small cooperatives all over the country. This was witnessed by LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron (leftmost) and CDA Executive Director Ray R. Elevazo (rightmost). The Land Bank of the Philippines (LANDBANK) and the Cooperative Development Authority (CDA) have joined hands anew for the Financial Inclusion Through Cooperatives (FIT-Coop) Program, an initiative that will provide capacity-building support to micro and small cooperatives in unbanked and underserved areas nationwide. LANDBANK President and CEO Cecilia C. Borromeo and CDA Chairman Orlando R. Ravanera led the signing of the Memorandum of Agreement (MOA), together with CDA Executive Director Ray R. Elevazo and LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron. Through the FIT-Coop Program, a total of 220 cooperatives with more than 31,000 members from 92 unbanked municipalities all over the country will undergo financial literacy trainings that would better prepare them to access formal credit assistance. “The signing of this MOA for the FIT-Coop Program is a momentous and historical event— a great breakthrough in putting those in the margins into the mainstream of the development process. This will also be a great leap forward for CDA to fulfill its mandate to promote the viability and growth of cooperatives as instruments of social justice and economic development,” CDA Chairman Ravanera said. LANDBANK President Borromeo said the FIT-Coop Program is also a clear display of the Bank’s continuous commitment to reach the smallest cooperatives in the most far-flung areas and empower them to become catalysts for inclusive growth in the countryside. “LANDBANK is no stranger to cooperativism. We know that a lot more can be done if we collaborate with them. Communities have transformed into very progressive local economies because of cooperatives. The crucial thing is we strengthen the weak micro and small cooperatives so that they can grow and access formal lending programs,” President Borromeo said. Under the FIT-Coop Program, assesment tools from both CDA and LANDBANK were utilized to develop the Cooperative Assessment Tool—an instrument which will measure a cooperative’s maturity level and readiness for different support services. In addition, an Environmental Mapping or Scanning Tool was likewise devised to identify necessary but missing facilities in the community which hamper the cooperative’s growth and development. The CDA and LANDBANK will then refer the data collected from these tools to relevant government agencies to further help cooperatives thru possible developmental interventions. President Borromeo added that this strategy is very much aligned with the Duterte Administration’s “whole-of-government approach”, wherein relevant government agencies collaborate and synergize efforts to achieve more significant results.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (center), Zambales Governor Hermogenes E. Ebdane, Jr. (4th from right), and Masinloc Mayor Arsenia J. Lim (3rd from left) lead the ribbon cutting at the inauguration of the LANDBANK Masinloc Branch in Brgy. Inhobol, Masinloc, Zambales. Joining them are Masinloc Vice-Mayor Pedro O. Enciso (2nd form right), LANDBANK offiicals namely (from L-R) Zambales Lending Center Department Manager Ma. Marita S. San Diego, Central Luzon Branches Group First Vice President Sylvia C. Lim, Masinloc Branch Head Ruth B. Panes, Branch Banking Sector Head Executive Vice President Julio D. Climaco, Jr., and Iba Branch Department Manager Emma M. Galvez. In line with its aggressive efforts to promote financial inclusion especially to the unbanked and underserved areas in the country, the Land Bank of the Philippines (LANDBANK) officially inaugurated its new branch in Masinloc, Zambales—the first commercial bank in the 1st class municipality. The Masinloc Branch will provide access to financial services and credit assistance to clients in the area, including neighboring municipalities of Candelaria and Sta. Cruz, covering a total of 54 barangays. This is the 4th LANDBANK branch in the province of Zambales, complementing its operations in Iba, Subic, and Olongapo City. LANDBANK President and CEO Cecilia C. Borromeo led the inauguration alongside Zambales Governor Hermogenes E. Ebdane Jr. and Masinloc Mayor Arsenia J. Lim. They were joined by Masinloc Vice-Mayor Pedro O. Enciso and LANDBANK officials, namely Branch Banking Sector Head Executive Vice President Julio D. Climaco, Jr., Central Luzon Branches Group First Vice President Sylvia C. Lim, Zambales Lending Center Department Manager Ma. Marita S. San Diego, Iba Branch Department Manager Emma M. Galvez, and Masinloc Branch Head Ruth B. Panes. “LANDBANK’s expanding reach in Zambales is a testament to our commitment to support the economic growth of the province. The opening of the Masinloc Branch is also consistent with our inclusive development thrust of establishing additional touchpoints for our priority sectors—the farmers and fishers who are in need of our services the most,” President Borromeo said. LANDBANK is currently servicing more than 10,000 farmers and fishers in the province engaged in rice production, trading, and fishing. Aside from having two Automated Teller Machines (ATMs), the Masinloc Branch also has a Digital Banking Corner installed with the Digital Onboarding System (DOBS), designed to help clients to open new accounts in just 10 to 15 minutes. Clients will also have access to the LANDBANK Link.Biz Portal which facilitates online payments for taxes, application fees, and other dues in 700-enrolled public and private institutions. The Masinloc Branch is the first LANDBANK branch inaugurated this year, to be followed by branches in Mangatarem and Umingan in Pangasinan, Tangub in Misamis Occidental, and Tubigon in Bohol. LANDBANK has a network of 409 branches, 46 lending centers, 2,195 ATMs, and 160 Cash Deposit Machines nationwide.
READ MORELANDBANK West Visayas Branches Group Head First Vice President Delma O. Bandiola along with Corporate Affairs Department Head Assistant Vice President Vivian M. Cañonero, and field unit officers and employees in Panay area joined the Festive Parade as part of the celebration of the Dinagyang Festival 2020. ILOILO CITY – Dinagyang Festival, once hailed as the “Best Tourism Event in the Philippines”, further upped its ante this year with the introduction of innovations that made it more inclusive and immersive for both locals and tourists. Among the novelties in Dinagyang 2020 are: 1) The 360-degree Ati Tribe dance competition where the Ati tribe dancers perform in an arena-type stadium while spectators surround them; 2) The Dagyang Calle Real to encourage the residents join in the traditional “sadsad” or community street dancing, and; 3) An art festival held at the historic Iloilo Esplanade to stay true to this year’s theme, “Perfect Vision: Celebrating the Ilonggo spirit in honor of Señor Santo Niño.” Derived from the Hiligaynon term revelry or merrymaking, Dinagyang celebrates the historical event when a replica of the Señor Santo Niño was first brought to Iloilo City from Cebu City by the San Jose Parish. Addressing the audience during the Festival, Iloilo City Mayor Jerry Treñas expressed his gratitude to everyone who helped put up the grandest Dinagyang Festival celebration to date, including the Land Bank of the Philippines (LANDBANK). With LANDBANK being a major sponsor in Dinagyang 2020, some LANDBANK personnel in Panay area, led by West Visayas Branches Group Head First Vice President Delma O. Bandiola together with Assistant Vice President Vivian M. Cañonero of the LANDBANK Corporate Affairs Department, joined the Festive Parade. The LANDBANK Iloilo City Branch also put up a booth to accommodate inquiries from potential clients and to exhibit the products and services of the Bank to the festival goers. “We laud the City Government of Iloilo, led by Mayor Jerry Treñas, and the Iloilo Festivals Foundation, Inc. for the safe and successful celebration of Dinagyang 2020. We look forward to strengthening our partnership and contributing to the City Government’s development. Through this, we will be able to boost our assistance to the farmers and fishers in the City and the Province of Iloilo,” LANDBANK President and CEO Cecilia C. Borromeo The City and the Province of Iloilo are among the valued clients of LANDBANK in Western Visayas. The partnership with these government institutions benefited the Bank’s priority sectors, with total loan releases of P1.88B to small farmers and fishers in the Province as of end-December 2019. Through the years, LANDBANK has solidified its presence not only in Iloilo City but in the whole province as well. The Bank has 10 branches and one (1) LANDBANK Easy Access Facility (LEAF) complemented by 40 ATMs and four (4) CDMs in the province to cater to the banking needs of the Ilonggos. The Bank also conducted a Financial Inclusion Caravan in Barotac Nuevo, Iloilo in 2017 to bring banking services to the unbanked and underserved in the area. LANDBANK is looking at further strengthening this partnership through development and infrastructure projects that the City Government can pursue with the Bank.
READ MOREIn line with bringing banking services closer to unbanked and underserved areas in the country, the Land Bank of the Philippines (LANDBANK) will officially inaugurate two new branches in Pangasinan—one in the Municipality of Umingan and the other in the Municipality of Mangatarem. LANDBANK is the first and only commercial Bank in Umingan serving a total of 79 barangays from the municipality and nearby San Quintin. The Mangatarem Branch serves clients from 82 barangays in the 1st class municipality, including 37 combined barangays from the neigboring municipalities of Aguilar and Urbiztondo. “LANDBANK’s continuous expansion in Pangasinan is a manifestation of our commitment to deliver innovative banking and financial services to Pangasinenses. This also forms part of our aggressive efforts to promote inclusive growth in the countryside, especially to farmers and fishers,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK now has a total of 12 major touchpoints in Pangasinan, with the two new branches joining those in Alaminos, Binalonan, Calasiao, Carmen, Dagupan, Lingayen, Mangaldan, San Carlos, Tayug, and Urdaneta. Both the Mangatarem and Umingan Branches had their soft openings last year, and will be inaugurated on March 5 and March 6, respectively. Network Expansion LANDBANK has 409 branches and extension offices, with 15 new branches to open this year, 8 of which will be in Mindanao. As of December 31, 2019, LANDBANK also has 2,195 Automated Teller Machines (ATMs) in 519 municipalities nationwide—63 of which are classified as unbanked areas—with 160 Cash Deposit Machines (CDMs). This year, an additional 150 new ATMs and 50 CDMs will be put-up. Meanwhile, the establishment of the Quirino and Lanao Lending Centers last year gives LANDBANK a total of 46 provincial lending centers nationwide, with eight more to be established this year. The Bank has 686 Point-of-Sale (POS) cash-out machines as of end-2019, which will be increased by 80 new terminals to be installed this year. LANDBANK also introduced the Agent Banking Program last year, and partnered with client cooperatives, associations, SMEs, and private entities to help provide basic banking services to far-flung areas. As of December 2019, 15 agent partners were accredited, operating in 13 unbanked municipalities and 6 areas previously without LANDBANK presence. The Bank is looking at onboarding 16 new agent banking partners this year to extend its reach and serve more unbanked and underserved areas.
READ MORECAGAYAN DE ORO, Misamis Oriental – In the uplands of this town, Ruben Gicabao and wife Lilibeth run an agri-business trading company which helps support the livelihood of some 500 small farmers in their community and neighboring areas who plant cassava, a nutrient-dense root vegetable used as raw material in food processing. Leaving his job in Manila after his father passed away in 2004, Ruben decided to revisit his father’s hometown in Cagayan de Oro City where he would eventually expand his father’s cassava trading business, the Agri de Oro VMB Marketing. The company started its operations by purchasing cassava from small farmers within their 50-meter radius in the neighboring towns of the Provinces of Bukidnon and Misamis Oriental. “We process the cassava from the farmers to produce granules which are sold to feed mills and traders. But as the demand for cassava chips rose over the years, my wife and I realized that we needed more capital to purchase enough cassava from more farmers, at the right and justifiable price,” Ruben said. In 2008, the couple applied for, and was granted a short-term loan (STL) assistance from Land Bank of the Philippines (LANDBANK), which enabled them to work with about 500 small farmers who plant cassava, even just in their own backyards. Ruben also employs up to 30 laborers for his agri-business, helping provide employment for the local community. On top of this, he would sometimes offer financial assistance to the farmers when cassava is not yet in season, as he understood the financial challenges of small farmers in terms of capital. “Through LANDBANK’s assistance, we were able to expand our business and market. Currently, Agri de Oro VMB Marketing already distributes cassava chips to big companies like San Miguel Foods Corporation, Bounty Fresh Food, Inc., New YUNG Yang Felan Farm, and Agricola, to name a few,” Ruben added. More than just cassava trading, Ruben’s agri-business continues to support not only his own family, but also the small farmers, their families, and the local community. To date, LANDBANK has supported Agri de Oro VMB Marketing through financial assistance worth Php20 million, promoting inclusive growth especially in unbanked and underserved areas. LANDBANK provides financial assistance to agri-businessmen like Ruben, who are the unsung catalysts for countryside development and poverty alleviation. It is the biggest credit provider to small farmers and fishers, and microenterprises among government financial institutions. Last year, LANDBANK’s loans to the agriculture sector reached P236.31 billion, exceeding its yearend target of P231.25 billion. Of this amount, P44.82 billion were outstanding loans to small farmers, fishers, cooperatives, and farmers associations, while P191.49 billion were loans to other players in the agri-business value chain.
READ MOREAs part of its aggressive thrust to promote greater financial inclusion, the Land Bank of the Philippines (LANDBANK) continues to expand its Agent Banking Program to bring basic banking services in remote and unbanked communities of the country. The program is now being implemented in 14 provinces in Luzon, Visayas and Mindanao through 820 Point-of-Sale (POS) terminals. These provinces include Cagayan, Pangasinan, Tarlac, Rizal, Batangas, Palawan, Occidental Mindoro, Quezon, Aklan, Guimaras, Capiz, Cebu, Misamis Oriental and Agusan del Norte. Under the agent banking strategy, the Bank enters into an agreement with POS Cash Out-Only Partners to facilitate cash out transactions and with full-suite Agent Banking Partners to offer card sale, cash in, cash out, fund transfer and bills payment. Through the LANDBANK Agent Banking Program, customers in places without formal banking presence can enjoy lower transaction costs, improved access to financial services and potentially save on travel and related expenses. Beneficiaries of the national government’s Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs can also withdraw their cash grants through the LANDBANK agent partners. From January to April 2020, a total of 1.16 Million transactions amounting to P4.77 Billion were completed via full-suite Agent Banking Partners and POS Cash Out-Only partners. This is an increase of 235% in volume from 346,320 transactions and 190% in amount from P1.646 Billion processed in the same period a year ago. “The LANDBANK Agent Banking Program allows the Bank to better serve its mandated sectors especially from remote areas where financial services are inaccessible. With the help of our agent partners across the country, we are bringing more Filipinos into the financial mainstream, thus, promoting greater financial inclusivity,” LANDBANK President and CEO Cecilia C. Borromeo said. At present, LANDBANK is working on expanding the features of the program to enable its beneficiaries to pay their loan amortization. The Bank also plans to increase the number of its agent partners, particularly from unbanked and underserved areas, to widen its reach and bring basic banking services closer to more Filipinos. Before this year ends, LANDBANK targets to get 16 new direct Agent Banking Partners on board, convert 64 eligible POS Cash-Out Only Partners into full-suite Agent Banking Partners, and accredit 200 new full-suite Agent Banking Partners in locations with high number of CCT beneficiaries. The LANDBANK Agent Banking Program is in accordance with the Bangko Sentral ng Pilipinas (BSP) Circular No. 940 series of 2017 wherein banks are now allowed to serve clients through cash agents contracted to perform selected banking services on its behalf in order to exponentially expand reach and serve clients more efficiently.
READ MOREBolinao Mayor Alfonso Celeste (center) and LANDBANK North Luzon Branches Group FVP Ma. Belma T. Turla (2nd from right) lead the official inauguration of the new LANDBANK Bolinao Branch. Joining them are (from L-R) Bolinao Police Chief Major Dennis Cabigat, LANDBANK Bolinao Branch Head Johnny Lim and LANDBANK Alaminos Branch Head Roehl Bautista. BOLINAO, Pangasinan – The Land Bank of the Philippines (LANDBANK) officially inaugurated on August 28, 2020 its newest branch in Bolinao, Pangasinan amid the ongoing Covid-19 crisis. The government bank now has 410 branches and extension offices nationwide. The LANDBANK Bolinao Branch will provide banking services and credit assistance to both the first-class Municipality of Bolinao and the third-class Municipality of Anda, covering a total of 48 barangays. “The LANDBANK Bolinao Branch provides another accessible and safe banking touchpoint for our clients and priority sectors in the province of Pangasinan. We remain focused and determined to bring our services closer to more farmers and fishers in the countryside and support local recovery and development efforts during these challenging times,” said LANDBANK President and CEO Cecilia C. Borromeo. Bolinao Mayor Alfonso Celeste and LANDBANK North Luzon Branches Group Head First Vice President Ma. Belma T. Turla were present during the Bolinao Branch inauguration rites. They were joined by Bolinao Chief of Police Major Dennis Cabigat, LANDBANK Bolinao Branch Head Johnny Lim and LANDBANK Alaminos Branch Head Roehl Bautista. “As a small municipality, we are very thankful for the historic opening of LANDBANK here in Bolinao to help finance our development projects. Banking will also be more convenient for us in the LGU, including our CCT beneficiaries and pensioners, because we would no longer have to go to Alaminos for our transactions,” Bolinao Mayor Celeste said. “Despite the current pandemic besetting our country, LANDBANK remains steadfast in providing timely and responsive financial support services to Filipinos, especially to the unbanked and underserved sectors. The opening of the LANDBANK Bolinao Branch today is a testament to this unwavering commitment,” FVP Turla said. With two (2) onsite Automated Teller Machines (ATMs), the new branch will also help facilitate cash assistance payouts under the Department of Social Welfare and Development’s (DSWD) poverty alleviation programs The newest LANDBANK branch is expected to serve a total of 7,253 rice and corn farmers, 6,337 beneficiaries under the Conditional Cash Transfer (CCT) Program and 2,257 beneficiaries under the Unconditional Cash Transfer (UCT) Program in Bolinao and Anda. LANDBANK operates a total of 13 branches in Pangasinan, with the Bolinao Branch complementing operations in Alaminos, Binalonan, Calasiao, Carmen, Dagupan, Lingayen, Mangaldan, Mangatarem, San Carlos, Tayug, Umingan, and Urdaneta. 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 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 MOREIn line with its special focus to serve the needs of the country’s agriculture sector, the Land Bank of the Philippines (LANDBANK) reported that it has assisted over two million small farmers and fishers (SFFs) nationwide. As of end-September 2020, LANDBANK already assisted a total of 2,396,259 SFFs, exceeding its full-year target of two million, and more than double the 1,032,982 cumulative number of SFFs supported in 2019. About 1,630,602—accounting for 68% of the total—were provided assistance through the Bank’s regular loan offerings and lending programs jointly implemented with the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR). Also included were the 716,897 small farmers assisted through the Rice Farmers Financial Assistance (RFFA) and Financial Subsidy to Rice Farmers (FSRF) Programs of the DA. The remaining 48,760 farmers were supported through the Financial Literacy Training Program of the LANDBANK Countryside Development Foundation, Inc. (LCDFI) conducted in unbanked municipalities nationwide. “Three months before the end of 2020, LANDBANK already surpassed its yearend target of assisting two million small farmers and fishers nationwide. This accomplishment attests to our continuing commitment that LANDBANK, together with the Department of Agriculture and the Department of Agrarian Reform, remains steadfast in its support to the agriculture sector,” said LANDBANK President and CEO Cecilia C. Borromeo. This is further illustrated by the continued expansion of LANDBANK’s outstanding loans to the agriculture sector, which grew by P5.68 billion from P224.66 billion in August to P230.34 billion in September 2020. Of the P230.34 billion-worth of agricultural loans, P34.97 billion were lent to small farmers and fishers, and cooperatives and farmers associations, rural financial institutions and other conduits, while P195.36 billion were provided to other players in the agribusiness value chain LANDBANK expects to further expand its agricultural loan portfolio to P245 billion by the end of the year. 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 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 |
