The Land Bank of the Philippines (LANDBANK) reaffirmed its continued support to
the Department of Social Welfare and Development (DSWD) in ensuring the timely,
safe and efficient disbursement of cash aid under the social protection programs of
the National Government.
LANDBANK President and CEO Cecilia C. Borromeo met with DSWD Secretary Erwin
T. Tulfo on 22 September 2022, to express the Bank’s full commitment to programs
and initiatives implemented for the country’s vulnerable sectors.
As the main distribution arm of the government’s social protection programs,
LANDBANK facilitates the regular disbursement of financial assistance under the
Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs of
the DSWD.
From January to August 2022, LANDBANK has released a total of P63.3 billion under
the CCT program that benefitted 4.4 million low-income families for their children’s
education, basic health needs and daily expenses.
A total of P11.5 billion was also delivered to 3.2 million UCT beneficiaries, as part of
the government’s support interventions under the Tax Reform for Acceleration and
Inclusion (TRAIN) Law.
Amid the rising prices of fuel and goods, LANDBANK is also working closely with the
DSWD in implementing the Targeted Cash Transfer (TCT) Program to support
around 12.4 million vulnerable households belonging to the bottom fifty percent
(50%) of Filipino households.
As of end-August 2022, the Bank has disbursed a total of P8.3 billion in cash
assistance to 8.3 million household-beneficiaries under the TCT Program.
The state-run Bank also upgraded the beneficiaries’ cash cards into transaction
accounts to provide beneficiaries with wider access to an array of banking services,
including cash card loading via LANDBANK branches, fund transfers through the
LANDBANK Mobile Banking App, and cash-in via LANDBANK Cash Deposit Machines.
The LANDBANK Prepaid Cards can also be used to withdraw from LANDBANK
Automated Teller Machines (ATMs) and 7-Eleven ATMs free-of-charge, cash-out
funds from the Bank’s Agent Banking Partners (ABPs), and make cashless purchases
in groceries, pharmacies, convenience stores, and other accepting merchants via
Point-of-Sale (POS) terminals.
