Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email

Landbank assists 3.2-M farmers, fishers as of end-2021

More than 3.2 million farmers and fishers nationwide have received assistance from the Land Bank of the Philippines through loans, subsidies, and training programs—7 percent 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 percent were supported through 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 trainingsthrough 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 percent higher from the P237.62 billion tallyby 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 projectsof local government units (LGUs) and government-owned and controlled corporations (GOCCs).

In terms of economic activities, P60.4 billion of 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.*

Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email
ARCHIVES

Read Article by date

August 2022
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 

Get your copy of the Visayan Daily Star everyday!

Avail of the FREE 30-day trial.