LANDBANK Hits 86% Of Agri Support Target In January

LANDBANK Hits 86% Of Agri Support Target In January


Halloween @ Home: Recreate The Chills And Thrills With Globe At Home

End the Spooktober in a spooktacular way with Globe At Home!

Phoenix Introduces New FamilyMart Retail Format Through Cebu Stores

FamilyMart opens three new compact stores in Cebu, offering a unique customer experience in response to the effects of the COVID-19 pandemic.

Globe Introduces Mobile Health Solution With GoHealth

For just P20, you can now enjoy up to P,1000 health insurance from Pacific Cross!

SM Wins 15 Awards From HK’s CG Asia Magazine

SM Investments Corporation continues to be recognized abroad as it recently bagged 15 awards in the 10th Asian Excellence Awards 2020 of Hong Kong magazine Corporate Governance Asia.

The Land Bank of the Philippines (LANDBANK) already lent out a total of PHP229.38 billion to the agriculture sector as of January 31, achieving 86.5 percent of its loan target of PHP265 billion for the entire 2020.

LANDBANK President and Chief Executive Officer Cecilia Borromeo said one month into the year, the Bank has already assisted 17,681 small farmers and fishers in accessing its various lending programs, bringing the total number to 1,050,663 assisted farmers and fishers as of end-January.

This brings the LANDBANK on track to achieving its target of assisting two million small farmers and fishers by yearend, she said in her report to Finance Secretary and LANDBANK chairman Carlos Dominguez III.

Of the PHP229.38 billion loaned out by LANDBANK to the agriculture sector, PHP1.36 billion were released through direct lending to farmers and fishers, while PHP38.53 billion were given through conduits such as cooperatives, farmers’ associations, and rural financial institutions, Borromeo said.

A total of PHP136.18 billion in loans were extended to small, medium and large agribusiness enterprises, while PHP53.31 billion were released to help finance agri-aqua related projects of local government units (LGUs) and government-owned and -controlled corporations (GOCCs).

On LANDBANK’s programs administered for the Department of Agriculture (DA), Borromeo said cumulative releases as of January 31 from the Agricultural Competitiveness Enhancement Fund (ACEF) amounted to PHP1.42 billion.

For the DA’s Socialized Credit Program under the Sugarcane Industry Development Act (SIDA), cumulative releases as of January 31 reached PHP130 million; for the Expanded Rice Credit Assistance-Rice Competitiveness Enhancement Fund (ERCA-RCEF), PHP410 million; and the Survival and Recovery Assistance Program (SURE-Aid), PHP2.28 billion.

Of these programs, the ERCA-RCEF and SURE-Aid, which were implemented to provide support to farmers following the implementation of the Rice Tariffication Law (RTL), have the highest utilization rates of 82 percent and 91.2 percent, respectively.

The cumulative releases as of January 31 under the Credit Assistance Program-Program Beneficiaries Development (CAP-PBD) administered for the Department of Agrarian Reform (DAR) amounted to PHP580 million, she added.

Earlier, Borromeo reported to Dominguez that LANDBANK exceeded its target of providing agricultural credit worth PHP231.25 billion in 2019, with PHP236.31 billion of loans extended to the farm and fisheries sector as of end-December last year, representing a 102-percent accomplishment rate.

Borromeo said LANDBANK also exceeded its target of assisting one million farmers in 2019 by 32,982, which represent a 103-percent accomplishment rate for 2019.

Under Republic Act (RA) No. 10000 or the Agri-Agra Reform Credit Act, banks are required to allot at least 15 percent of their total loanable funds to farmers and fisherfolk, and 10 percent to agrarian reform beneficiaries (ARBs). (PR)

Hontiveros Files Resolution For The ‘World Day Of The Poor’ On Nov. 15

"Ngayong nasa gitna tayo ng krisis, mas marami ang nagugutom at naghihirap. We can't turn a blind eye to them. Now, more than ever, we need to sustain our compassion to help the poor and reach out to them. Bilang lingkod ng bayan, huwag natin silang kalimutan. Huwag natin silang pabayaan at patuloy tayong magsilbi para sa kanila gaya ng ating sinumpaan."

realme PH Elevates Style With Donnalynn Bartolome Using The realme 7i

Donnalyn Bartolome is the new face of realme! Here's why she chose the lifestyle brand:

New Equipment To Ensure Biosafety Of Forensic Chemists In Negros

The Philippine National Police Negros Occidental Provincial Crime Laboratory has received a boost in its effort to ensure biosafety in the workplace after receiving a fabricated fume hood from the provincial government.

Enhanced-Nutribun: Good For Both Undernourished And Healthy Pinoys

What makes the comeback of Nutribun special? Aside from having an enhanced taste, it also aims to benefit up to 1 million children!

VP Leni, USAID, PBEd Team Up To Provide Training To Unemployed And Out-Of-School Youth

The Office of the Vice President, the United States Agency for International Development, and Philippine Business for Education has launched a P17-million partnership to support free technical-vocational skills and employability training for at least 1,000 unemployed and out-of-school youth in the country.

Tips For Staying Secure While Working From Home

Because you can never be too careful, here are some assuring tips on how you can stay safe online:

Hontiveros Urges PH Gov’t To Back Int’l Campaign To Make COVID-19 Vaccine Cheaper

Sen. Hontiveros, naghain ng resolution na sumusuporta sa pagpapaluwag ng intellectual property (IP) agreements upang mas mapadali at mapamura ang pagkuha ng COVID-19 vaccine.

Lorenzana Thanks Australia’s Support To PH COVID-19 Efforts

Department of National Defense Secretary Delfin Lorenzana thanks the Australian government for its continued support to the country's efforts to contain the COVID-19.

How To Trick-Or-Treat Safely This Halloween 2020

Still planning for a Halloween celebration this year? You might want to consider these pointers!

BDO Leasing Earns P135 Million In 9M 2020

BDO Leasing records P135 million in net income for the first nine months of 2020, reversing the P39 million loss in the comparative period last year largely due to lower interest and financing charges.