State-run Land Bank of the Philippines (LandBank) said its loans to the agriculture sector in the first quarter grew by 3 percent to P236.8 billion from last year’s P229.7 billion. The bank said it remains as the top provider of loans to the agriculture sector, allowing industry players to bankroll…
More than 3.2 million farmers and fishers nationwide have received assistance from the Land Bank of the Philippines through loans, subsidies, and training
The Land Bank of the Philippines (LandBank) said its outstanding loans to the agriculture sector last year grew by 4.31 percent year-on-year to P247.85 billion. LandBank said in a statement that its outstanding loans to the agriculture sector last year was P10.23 billion higher than the P237.62 billion recorded in…
Published January 29, 2021, 12:22 PM
The Land Bank of the Philippines’ (LANDBANK) agricultural loans grew from P236.31 billion in 2019 to P237.62 billion in 2020, more than half of which were given to small, medium, and large agribusinesses.
Of the P237.62 billion total outstanding loans, small, medium, and large agribusiness enterprises were granted P142.75 billion, while P50.89 billion was channeled to support agri-aqua related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs).
Meanwhile, P43.98 billion went to small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions, and other conduits.
To be specific, LANDBANK assisted a total of 2.67 million farmers and fishers nationwide as of end-2020, which translates to a 133.5-percent accomplishment rate over the bank’s full-year target of two million.
CALOOCAN CITY, Jan. 30 (PIA) The Land Bank of the Philippines (LandBank) expanded its total loan portfolio to the agriculture sector from P236.31 billion in 2019 to P237.62 billion in 2020, as the state-run bank remained aggressive in providing crucial lending support to the sector despite the challenges of the COVID-19 pandemic.
Of the P237.62 billion total outstanding loans, P43.98 billion benefitted small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions and other conduits. Small, medium, and large agribusiness enterprises were granted P142.75 billion, while P50.89 billion was channeled to support agri-aqua related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs).