LANDBANK clinches int’l awards for rural electrification, financial inclusion

LANDBANK Executive Vice President Ma. Celeste A. Burgos (rightmost) receives the award from ADFIAP Chairman Saud A. Minam (center) and First Vice Chairman Kao Thach (leftmost) for the Bank’s development project on rural electrification under the Infrastructure Development category during the ADFIAP Sustainable Development Awards 2024 in Phnom Penh, Cambodia on 16 May 2024. (Photo credit to ADFIAP)

In recognition of its steadfast commitment to promoting sustainable development, Land
Bank of the Philippines (LANDBANK) has been conferred with two international awards by
the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for
its development projects on rural electrification and financial inclusion.

LANDBANK’s BRIGHTNESS Lending Program, which stands for BRinging Inclusive Growth
in every Household Through National Electrification Support Services, won in the
Infrastructure Development category, while the Bank’s support to ASA Philippines
Foundation, Inc.’s (ASA Philippines) credit expansion for underserved women earned a
Merit Award in the Financial Inclusion category.

ADFIAP Chairman Saud A. Minam, First Vice Chairman Kao Thach, and Second Vice
Chairman Aria Putera Ismail presented the awards to LANDBANK, represented by
Executive Vice President Ma. Celeste A. Burgos, at the ADFIAP Sustainable Development
Awards on 16 May 2024 in Phnom Penh, Cambodia.

“LANDBANK is honored to receive these prestigious awards from ADFIAP, which
underscore our unwavering dedication to advancing sustainable and inclusive
development. This recognition inspires us to continue empowering underserved
communities, fostering economic growth, and enhancing quality of life for our valued
clients," said LANDBANK President and CEO Lynette V. Ortiz.

Launched in 2013, LANDBANK BRIGHTNESS Lending Program aims to expand energy
access in barangays to spur growth and generate more economic activities in the
countryside by providing financing assistance to qualified distribution utilities and
wholesale power aggregators.

This initiative supports the National Government’s rural electrification efforts under
Republic Act No. 9136, otherwise known as the “Electric Power Industry Reform Act of
2001 (EPIRA Law),” which ensures the quality, reliability, security and affordability of
electric power supply nationwide.
As of 31 March 2024, total approved loans under the BRIGHTNESS Lending Program have
reached P13.7 billion, supporting over 4.8 million households with reliable power supply.

LANDBANK, represented by Executive Vice President Ma. Celeste A. Burgos (center), also receives a
merit award under the Financial Inclusion category as presented by ADFIAP Chairman Saud A.
Minam (rightmost) and Second Vice Chairman Aria Putera Ismail (leftmost). (Photo credit to ADFIAP)

Meanwhile, LANDBANK’s support enabled ASA Philippines to raise P5.0 billion through a
five-year syndicated corporate notes facility. Dubbed “Project Nanay First,” the proceeds
from the offer are aimed to reach and empower more women, particularly mothers, from
economically disadvantaged sectors through the provision of accessible financing.

ASA Philippines’ five-year corporate notes issuance was classified as the first-ever Gender
Bonds issued in the country, as certified by social bond second-party opinion provider DNV
(Det Norske Veritas) and registered with the Securities and Exchange Commission (SEC).

The partnership promotes broader financial inclusion in alignment with the Philippine
Development Plan (PDP) 2023-2028 and advocates for environmental, social, and
governance (ESG) principles.

ADFIAP serves as the focal point of all development banks and other financial institutions
engaged in development financing across the Asia-Pacific region, with the mission to
advance sustainable development through its members. The annual ADFIAP Awards
recognizes member-institutions that have made important contributions to national


LANDBANK is the largest development financial institution in the country promoting
financial inclusion, digital transformation and sustainable development to benefit Filipinos.
The Bank is present in all 82 provinces in the country, committed to providing accessible
and affordable financial support to key players and industries as part of its broader thrust
of serving the nation.

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