TUBURAN, Basilan – Land Bank of the Philippines (LANDBANK) has extended a P120-
million loan to the Municipal Government of Tuburan for the purchase of various heavy
equipment to speed-up construction and maintenance of farm-to-market roads and
other crucial infrastructure projects across the town.
The new equipment financed by the state-run Bank will enhance the municipality’s road
network and provide over 1,500 local farmers and fishers with improved access to
agricultural technology and farm material inputs, plus reduced transportation costs for
their produce.
The agreement between the Municipal Government of Tuburan and LANDBANK was
formalized through a loan signing event led by Tuburan Mayor Jhaber S. Kallahal and
LANDBANK Senior Vice President Charlotte I. Conde last 23 May 2024 in Zamboanga
City. They were joined by Tuburan Municipal Treasurer Abubakar U. Mohammad,
LANDBANK Zamboanga City Lending Center Head Zenaida K. Valencia and Account
Officer Jaydee N. Bongon.
The loan will support the local government’s strategic investments in promoting
economic growth especially in the town’s underserved communities.
“LANDBANK stands ready to serve the growth needs of partner local government units
to bankroll initiatives that stimulate economic activities. This complements our efforts in
support of the agriculture sector and other key industries contributing to building
inclusive and sustainable local communities,” said LANDBANK President and CEO
Lynette V. Ortiz.
The P120-million LANDBANK loan will be used by Tuburan LGU to purchase 10-wheeler
dump trucks, 10-wheeler mixer trucks, wheel loaders, a hydraulic crawler excavator,
and a 10-wheeler self-loading truck. This will help reduce operational costs associated
with renting and subcontracting equipment for current and future construction projects
across the town.
The municipal government requires logistics to maintain existing road networks and
other infrastructure projects. The funding from LANDBANK will be crucial in addressing
this need and advancing local growth, considering that Tuburan is an agricultural
community with most of its land area dedicated to coconuts, rubber, and cassava.
“LANDBANK’s commitment to fostering economic growth and development in our region
is truly commendable. The funds provided will enable us to implement crucial projects
and initiatives that will benefit our citizens and enhance the overall quality of life in our
Municipality,” said Tuburan Mayor Kallahal.
“We value the strong partnership we have built with LANDBANK over the years and look
forward to work together towards our shared vision of a thriving and prosperous
community,” he added.
LANDBANK is the biggest development partner of LGUs in the country, with outstanding
loans reaching P113.6 billion as of April 2024. These loans support local development
projects nationwide, including the acquisition of heavy equipment, construction and
maintenance of farm-to-market roads, railways and bridges, utility projects, school and
hospital buildings, street lights, and computerization of LGU operations, among others.
ABOUT LANDBANK
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.
