GENERAL SANTOS CITY, South Cotabato -- The Land Bank of the Philippines (LANDBANK) has committed to provide the Provincial Government of Sarangani with P1-billion worth of loans to fund the province's various development projects.

LANDBANK President and CEO Cecilia Cayosa Borromeo and Sarangani Governor Rogelio D. Pacquiao signed the term sheet for the proposed loan on 19 January 2023 at the Grand Summit Hotel in General Santos City. They were joined by Vice Governor Dr. Elmer T. De Peralta, Provincial Administrator Atty. Ryan Jay R. Ramos, together with LANDBANK Senior Vice Presidents Ma. Celeste A. Burgos, Leila C. Martin, Charlotte I. Conde, and Camilo C. Leyba, and Vice President Eden B. Japitana, among other Bank officers. 

“LANDBANK fully supports the vision for Sarangani Province to have a self-sustaining and globally competitive economy. Together, let us continue to explore more avenues for collaboration, in the service of your constituents, and the nation at large,” said President Borromeo.

The loan was approved by the LANDBANK Board on 25 January 2023.

Of the P1-billion loan, Sarangani eyes to allocate P500 million for the acquisition of several heavy equipment, P200 million for hospital and medical equipment, and P300 million for the establishment of the Provincial Agri-Fisheries Complex.

"My heartfelt appreciation and gratitude to LANDBANK for gladly opening its doors, once again, to the Provincial LGU of Sarangani with its proposal to raise as much as P1 billion to fund the province's programs and projects," Governor Pacquiao said.

The governor added that the funding support will "fuel the work of the Provincial LGU as we intensify our efforts in delivering more basic services to the people, as well as reach targeted goals for a more resilient, dynamic, and progressive Sarangani."

Likewise, LANDBANK and the provincial local government of Sarangani signed a Memorandum of Understanding (MOU) for the use of LANDBANK’s electronic payment channel.

Through the LANDBANK Link.BizPortal, Sarangani residents can now digitally pay for fees, dues, and charges to the provincial government in real-time and at their convenience with just a few clicks on their computers or mobile devices.

The Provincial Government of Sarangani joins 1,136 government and private partner merchants nationwide that have been enrolled in the LinkBizPortal system, as of end-December 2022.

From January to December 2022, the LANDBANK Link.BizPortal facilitated 5.8 million transactions with value of P11.6 billion, representing increases of 49% and 11%, respectively, year-on-year.

LANDBANK is offering a menu of digital products and services to all local governments nationwide, in support of Executive Order 170 or the Adoption of Digital Payments for Government Disbursement and Collections.

The LANDBANK Link.BizPortal is also in line with the national government’s call for a National Retail Payment System, which also supports the “eGov Pay” payment solution of the Bangko Sentral ng Pilipinas (BSP). (LANDBANK)