The Land Bank of the Philippines (LANDBANK) remains the biggest lender to the
agriculture sector, with loans reaching P236.8 billion as of 31 March 2022.
The loans were used to finance various economic activities of major players in the
industry—from small farmers and fishers to large agribusiness enterprises, as well as
local government units (LGUs) and government-owned and controlled corporations
(GOCCs) for agri-aqua related projects and construction of needed infrastructure
such as public markets, cold storages, irrigation systems, farm-to-market roads,
warehouses, and slaughterhouses.
Small farmers and fishers benefited from the P35 billion loans channeled through
cooperatives and farmers’ associations, rural financial institutions and other partner
conduits of LANDBANK.
“We continue to intensify our support to the agri sector, particularly the farmers and
fishers whom we celebrate in this month of May. LANDBANK is committed in
delivering timely and responsive support to boost their production and income,” said
LANDBANK president and CEO Cecilia C. Borromeo.
Financing for small, medium, and large agribusiness enterprises accounted for
P146.62 billion of the total loans, P55.19 billion supported LGUs and GOCCs, and the
remaining P99.64 billion backed the construction and improvement of essential
infrastructure.
In terms of economic activities, P56.39 billion of LANDBANK’s total agri sector loans
financed crops, livestock, and fisheries, while P80.83 billion was channeled to agri-
processing and trading.
As part of its intensified support to the agriculture sector, LANDBANK continues to
implement regular loan offerings alongside lending programs in partnership with the
Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).
As of 31 March 2022, LANDBANK has released a total of P12.51 billion under the
programs administered for DA, which include the Agricultural Competitiveness
Enhancement Fund (ACEF), the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA), the Expanded Rice Credit Assistance under
the Rice Competitiveness Enhancement Fund (ERCA-RCEF), the Survival and
Recovery Assistance Program for Rice Farmers (SURE Aid), and SURE COVID-19.
Meanwhile, the Bank’s cumulative loan releases under DAR’s Credit Assistance
Program for Program Beneficiaries Development (CAP-PBD) has reached P700
million.
LANDBANK remains fully committed towards advancing a more vibrant, productive,
and resilient agriculture sector in line with serving the nation.
