The Land Bank of the Philippines has partnered with the Department of Agriculture and Go Negosyo to support their existing coaching program and service the financial requirements of eligible farmers, fishers, and micro, small, and medium enterprises (MSMEs) nationwide.
Under the Kapatid Agri Mentor Me Program (KAMMP), Landbank will facilitate loan applications and provide credit assistance to graduate-mentees coached and trained by Go Negosyo and DA. The Bank will also assist in the development of new training and mentorship modules for startup and expanding agribusiness ventures, the press release said.
During the virtual Memorandum of Agreement (MOA) signing ceremony on 20 September 2021, Landbank welcomed the opportunity to match its loan programs with the specific requirements of eligible KAMMP graduates and provide accessible and affordable credit assistance to support their livelihood.
“We are proud to be part of this meaningful and timely undertaking tailored to the needs of the agriculture sector. This is aligned with our ongoing efforts in widening credit access to farmers, fishers, and MSMEs nationwide,” said Landbank President and CEO Cecilia C. Borromeo.
Presidential Adviser for Entrepreneurship and Go Negosyo founder Secretary Joey A. Concepcion highlighted the impact of Landbank’s involvement in KAMMP towards achieving its goal under the Mentorship, Market, and Money (3Ms) Principle.
“These efforts from Landbank to provide financing to entrepreneurs under KAMMP are definitely a welcome development. I would like to thank Secretary Dar and President Borromeo for joining forces with Go Negosyo to really try and improve the lives of the Filipino people,” said Presidential Adviser Concepcion.
Landbank is looking to launch within the year its Digital Lending System (DLS), which will facilitate online loan applications for the safety and convenience of farmers and fishers. This move is in line with the National Government’s health and safety protocols due to the COVID-19 pandemic and its Ease of Doing Business campaign.
From January to July 2021, Landbank has conducted 20 virtual trainings for 168 cooperatives nationwide facilitated by the Landbank Countryside Development Foundation, Inc. (LCDFI), while 85 MSMEs have attended the Bank’s new webinars from July to August 2021 to strengthen their recovery strategy under the new normal.
Landbank’s partnership with DA and Go Negosyo builds on the Bank’s ongoing efforts to provide accessible and timely agricultural credit as part of serving the nation.*PR