State-run Land Bank of the Philippines (LANDBANK) remains aggressive in extending
affordable financing for individual farmers and fishers, and other players in the
agriculture value chain through loan programs jointly implemented by the Bank with
the Department of Agriculture (DA).
The third run of the LANDBANK AgriSenso Virtual Forum on 19 September 2022
featured loan availers, namely Kuvi Integrated Farm owner Rogelio T. Giangan from
North Cotabato, rice farmer Vanessa Morillo from Sto. Niño, Cagayan, and Dampe
Palay and Sugarcane Producers Cooperative Chairperson Rodolfo H. Medina from
Floridablanca, Pampanga, who shared how their productivity and income improved
following the financial support from LANDBANK and DA.
LANDBANK Program Management Department I Head, Assistant Vice President
Edgardo S. Luzano discussed available financing with as low as 2% annual interest rate for individual farmers and fishers and their cooperatives and associations, as well as for micro and small enterprises (MSEs).
Under the Agricultural Competitiveness Enhancement Fund (ACEF) Lending
Program, LANDBANK provides credit assistance for the purchase of farm inputs and
acquisition of agricultural fixed assets. The loanable amount for individual farmers
and fishers is up to P1 million, while cooperatives, associations and MSEs may
borrow a maximum of P5 million.
As of 31 August 2022, the Bank has released a total of P8.1 billion in loans to over
35,500 borrowers under the ACEF Lending Program.
LANDBANK also implements the Expanded Rice Credit Assistance under the Rice
Competitiveness Enhancement Fund (ERCA-RCEF), which aims to help increase the
productivity, efficiency and profitability of rice farmers and their cooperatives.
Eligible program borrowers may avail of up to 90% of their total project cost.
Since the implementation of ERCA-RCEF in 2019, a total of P1.7 billion in loans has
been released to more than 5,700 borrowers, including 46 cooperatives and
associations that assisted over 18,300 farmers and fishers.
In support of the development of the country’s sugar industry, LANDBANK is also
implementing the Socialized Credit Program under the Sugarcane Industry
Development Act (SCP-SIDA). This facility is made available to individual sugarcane
farmers, cooperatives, associations and common service centers, to finance up to
90% of their total project cost or financing requirement.
As of end-August 2022, the Bank’s loan releases under SCP-SIDA amounted to
P612.3 million for 2,651 borrowers, benefiting over 6,700 sugarcane farmers.
The next run of the AgriSenso Virtual Forum will be held on 26 September 2022 to
discuss other lending programs designed for small farmers and fishers, and agrarian
reform beneficiaries (ARBs).
