Published April 21, 2021, 10:52 AM
Amid the prevalence of African Swine Fever (ASF), state-run lender Land Bank of the Philippines (LANDBANK) has doubled its credit commitment to the local swine industry from P15 billion to P30 billion.
This, according to the bank, will help local pork producers and feed millers to repopulate and stay in operations amid ASF.
The move came after Finance Secretary and LANDBANK Chairman Carlos Dominguez III ordered the state lender to double its support for hog raisers, feed millers, and other industry players dealing with supply shortfalls and retail price spirals of pork products.
“The LANDBANK is taking steps to ease the supply and price pressures with additional funding support for distressed stakeholders, as the steep rise in pork prices is partly responsible for the current elevated inflation that has exacerbated the daily woes of Filipino consumers amid the pandemic,” Dominguez said.
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