 | LANDBANK support to farm, fisheries industries tops P247 billion in 2021 |
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BusinessWorld
February 21, 2022 | 12:04 am
LAND BANK of the Philippines (LANDBANK) said it provided P247.85 billion worth of loans, subsidies, and training programs to 3.2 million farmers and fishermen in 2021.
“We will continue to promote recovery and renewed growth for agri players and other development industries, as part of our expanded and holistic approach in serving the nation,” LandBank President Cecilia C. Borromeo said in a statement.
Of the total, 2.32 million or 72% of farmers and fisherfolk were assisted through regular loan programs, including lending programs administered for the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).
As of Dec. 31, the bank had released P11.95 billion to 296,636 farmers and fisherfolk via programs administered for the DA.
In partnership with the DAR, LANDBANK released P679.92 million to support 10,170 small farmers, agrarian reform beneficiaries and other smallholders under its credit assistance programs.
The bank also assisted a combined 796,311 beneficiaries under the DA’s Rice Farmer Financial Assistance and Financial Subsidy to Rice Farmers Programs, while 187,690 farmers and fisherfolk received capacity building training through the LANDBANK Countryside Development Foundation, Inc.
Loans were also allocated to small, medium, and large agribusiness enterprises, agri-aqua related projects of local government units and government-owned and -controlled corporations, and small farmers and fisherfolk, via cooperatives and farmers’ associations, rural financial institutions and other conduits. — Luisa Maria Jacinta C. Jocson
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