LANDBANK, DA deliver cash aid to 6,200 Cagayan rice farmers

LANDBANK and the Department of Agriculture deliver cash assistance to rice farmers in Allacapan, Cagayan on 26 October 2022, under the Rice Competitiveness Enhancement Fund - Rice Farmers Financial Assistance (RCEF-RFFA) Program.

CAGAYAN PROVINCE – More than 6,200 rice farmers from this province received
cash assistance worth P5,000 each under the Rice Competitiveness Enhancement
Fund – Rice Farmers Financial Assistance (RCEF-RFFA) Program from the Land Bank
of the Philippines (LANDBANK).

In partnership with the Department of Agriculture (DA), the cash assistance was
credited to LANDBANK Intervention Monitoring Cards (IMCs) of beneficiaries from
Cagayan, composed of over 3,000 rice farmers from the Municipality of Gattaran,
1,850 from Allacapan, and 1,350 from Aparri.

“LANDBANK is working closely with the DA to deliver cash assistance to rice farmers
in the most immediate time. Rest assured that we will continue to complement the
National Government’s development agenda towards building a sustainable and
resilient agriculture sector,” said LANDBANK President and CEO Cecilia C. Borromeo.

Through the LANDBANK IMCs, the farmer-beneficiaries can withdraw their cash
grants from LANDBANK automated teller machines (ATMs) free of charge, cash-out
funds from LANDBANK Agent Banking Partners (ABPs), and make cashless purchases
in establishments and other accepting merchants via Point-of-Sale (POS) terminals,
for the purchase of needed farm inputs.

LANDBANK is also gearing up to deliver IMCs and cash assistance to DA-identified
beneficiaries in other Cagayan municipalities, including Buguey, Calayan,
Camalaniugan, Lal-lo, Gonzaga, Sta. Ana, and Sta. Teresita.

As of 29 October 2022, LANDBANK has produced more than 126,000 IMCs for RCEF-
RFFA beneficiaries, and opened accounts for additional 125,000 farmers for
immediate production and distribution of their own cards.

Under the RCEF-RFFA Program, beneficiaries are set to receive P5,000.00 worth of
cash assistance each through the LANDBANK IMCs to boost agricultural productivity.
LANDBANK serves as the disbursing arm of the RCEF-RFFA Program, designed to
provide responsive financial support to eligible farmer beneficiaries identified by the
DA, as part of the implementation of Republic Act No. 11203 otherwise known as the
Rice Tariffication Law (RTL).

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