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July 14, 2024

Landbank’s feted for support to agri sector

State-run Land Bank of the Philippines headed by bankero Cecilia Borromeo was feted at the 2nd Gawad sa Paglingap sa Magsasaka at Mangingisda (Gawad Lingap) Awards of the Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC), for the bank’s outstanding support to the agriculture sector as well as the micro, small, and medium enterprises (MSMEs) amid the COVID-19 pandemic.

Landbank received a special award as one of the partner lending conduits of DA-ACPC for agri-fishery credit programs for small farmers and fishers and other agri-players.

“While we take on an expanded role of serving various development sectors, providing intensified support to agriculture is a continuing commitment for Landbank,” the bankero said.

Together with the DA and ACPC, Borromeo said that the bank remains focused on extending financial access to farmers and fishers nationwide under a whole-of-government approach.

Esperanza Martinez, lending program management group head at Landbank, received the award during the award ceremonies held at Novotel Manila Araneta last April 28.

In partnership with the agriculture department, Landbank offers various lending programs directed at supporting the recovery and growth of small farmers, fishers and MSMEs.

These loan programs include the Expanded Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), Agricultural Competitiveness Enhancement Fund (ACEF), LBP-SRA Socialized Credit Program under Sugarcane Industry Development Act (SCP-SIDA), and the Survival and Recovery Assistance (SURE Aid) Program.

Landbank also implements the SURE COVID-19 loan program together with DA-ACPC to assist small farmers and fishers affected by the economic impact of the global health crisis.

Under the programs being administered, cumulative loan releases have reached a total of P12.51 billion as of end March benefitting small farmers and fishers and micro- and small enterprises nationwide.