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April 12, 2024

LandBank lends P755.1 billion to farm, rural sectors

Land Bank of the Philippines (LandBank) said its outstanding loans to the entire agricultural value chain reached P755.1 billion as of December 31, 2023.

This represents a 23% increase from P614.8 billion in the third quarter, driven by strategic financing for agriculture and fisheries production, sustainable projects, and public rural infrastructure under Republic Act No. 11901, or The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022.

“As LandBank’s role in nation-building continues to expand, our commitment to advancing countryside development has remained steadfast,” said LandBank president and CEO Lynette V. Ortiz. “Through accessible financing and support interventions, we are empowering communities and enriching lives, while boosting the National Government’s inclusive and sustainable development agenda.”

LandBank’s P755.1 billion investment in countryside development represents 51% of its total loan portfolio.