MANILA -- More than 3.2 million farmers and fishers nationwide have received assistance from the Land Bank of the Philippines (LANDBANK) through loans, subsidies, and training programs—7% more than the state Bank’s three-year commitment to assist three million by end-December 2021.
“Assisting over 3.2 million farmers and fishers underscores LANDBANK’s intensified support to the agriculture sector. 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,” said LANDBANK President and CEO Cecilia C. Borromeo.
Of the total farmers and fishers assisted, 2.32 million or 72% were supported through LANDBANK’s regular loan programs, including lending programs administered for the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).
As of 31 December 2021, LANDBANK has released a total of P11.95 billion for the benefit of 296,636 farmers and fishers under the programs administered for the DA.
These include the Agricultural Competitiveness Enhancement Fund (ACEF), Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA), Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), Survival and Recovery Assistance (SURE Aid) Lending Program, and Expanded SURE Aid and Recovery Project (SURE Aid COVID-19).
In partnership with the DAR, LANDBANK has released P679.92 million to support 10,170 small farmers, particularly agrarian reform beneficiaries and small farm holders, under the Credit Assistance Program for Program Beneficiaries Development (CAP-PBD) and Expanded Assistance to Restore and Install Sustainable Enterprises for Agrarian Reform Beneficiaries and Small Farm Holders (E-ARISE-ARBs).
The Bank also assisted a combined 796,311 beneficiaries under the DA’s Rice Farmer Financial Assistance (RFFA) and Financial Subsidy to Rice Farmers (FSRF) Programs, of which 62,020 also availed of the SURE Aid Program. The remaining 187,690 farmers and fishers received capacity building trainings through the LANDBANK Countryside Development Foundation, Inc. (LCDFI).
Agricultural loans
LANDBANK’s outstanding loans to the agriculture sector reached P247.85 billion as of 31 December 2021, or 4.31% higher from the P237.62 billion tally by end-2020.
Of this number, P38.83 billion directly benefitted small farmers and fishers, including those which were channeled through cooperatives and farmers’ associations, rural financial institutions and other conduits.
A total of P155.66 billion supported small, medium, and large agribusiness enterprises, while the remaining P53.36 billion aided agri-aqua related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs).
In terms of economic activities, P60.4 billion of LANDBANK’s total agri loans financed crops, livestock, and fisheries, while P88.25 billion was channeled for agri-processing and trading. The remaining P99.19 billion backed the construction and improvement of essential infrastructure such as public markets, farm-to-market roads, warehouses, cold storages, irrigation systems, and slaughterhouses.
LANDBANK continues to support the agriculture sector as part of its social mandate of promoting countryside development, alongside servicing the financial needs of micro, small and medium enterprises (MSMEs), countryside financial institutions (CFIs), local government units (LGUs), and government institutions. (LANDBANK)
