STATE-run Land Bank of the Philippines (LandBank) announced it was honored at the Second 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 and micro, small and medium enterprises (MSMEs) amid the Covid-19 pandemic.
LandBank said in a statement it received a special award as one of the partner lending conduits (PLCs) 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,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying. “Together with the DA and ACPC, we remain focused on extending financial access to farmers and fishers nationwide under our whole-of-government approach.”
LandBank said its Lending Program Management Group Head, Vice President Esperanza N. Martinez received the award on April 28, 2022, during the award ceremonies.
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 following: Expanded Credit Assistance under the Rice Competitiveness Enhancement Fund; Agricultural Competitiveness Enhancement Fund; LandBank-SRA Socialized Credit Program under Sugarcane Industry Development Act; and, the “Survival and Recovery Assistance” program.
LandBank said it also implements a Covid-19 loan program together with the DA-ACPC to assist small farmers and fishers affected by the economic impact of the global health crisis.
Under the programs being administered by LandBank for DA-ACPC, cumulative loan releases have reached a total of P12.51 billion benefitting small farmers and fishers and micro- and small enterprises nationwide, as of 31 March 2022.
LandBank said it “remains fully committed to serving the requirements of farmers and fishers, towards building a stronger and more resilient agriculture sector.”
Source: https://businessmirror.com.ph/2022/05/04/landbanks-agri-support-reaps-gawad-lingap-award/
