Stay updated with breaking news from Agri Agra. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Loans extended by Philippine banks to the agriculture and agrarian reform sector grew by 19.3 percent to P851.76 billion last year from the previous year’s P713.6 billion, preliminary data released by the Bangko Sentral ng Pilipinas showed.
The Bangko Sentral ng Pilipinas said farmers, fisherfolk, and micro, small, and medium enterprise in the agriculture, agribusiness, and related sectors are expected to get a shot in the arm once the amendments to the mandated threshold for agriculture and agrarian reform lending are enacted.
Published June 30, 2021, 7:30 AM The merger of government-controlled banks Land Bank of Philippines (Landbank) and United Coconut Planters Bank (UCPB) will expand and increase funding for the agricultural sector, said Landbank in a statement. Landbank president and CEO Cecilia C. Borromeo said the combining of two large banks’ resources will benefit the country’s farmers and fisherfolk because it will be better capitalized and could expand its 722 branches to service the agricultural sector. Landbank president and CEO Cecilia C. Borromeo She said the proposed merger “will also be benefi...