ECHAGUE, Isabela — The Land Bank of the Philippines (LANDBANK) officially turned-
over a grains complex located at Brgy. Ipil to the Provincial Government of Isabela in
support of its Palay Procurement Program for small farmers.
The Province is leasing the grains complex from the state-run Bank with obligations
to repair, rehabilitate and upgrade the facility, including the typhoon-damaged
warehouse and rice mill buildings.
The grains complex is part of a P2-billion LANDBANK loan availed by the local
government—of which P1 billion will be used as working capital for palay
procurement, while the remaining P1 billion as standby credit for investment in
equipment and machineries.
“LANDBANK fully supports initiatives that provide small farmers a reliable source of
income, including access to post-harvest facilities. We will also continue to service
the development requirements of our local government partners towards food
security, especially in the countryside,” said LANDBANK President and CEO Cecilia C.
Borromeo.
Through the Palay Procurement Program, Isabela Governor Rodito Albano III aims
to boost the productivity and income of small farmers in the area, by offering an assured and reasonable price for their produce while stabilizing the price of palay in
the local market.
Around 16,667 small rice farmers from 34 municipalities, three (3) cities, and 1,055
barangays in the Province are targeted to benefit from the Program.
“Ang actual Return of Investment dito ay hindi yung kikitain ng probinsya. Ang kita
ng probinsya rito ay yung tulong sa farmers, para at least stable lang yung prices.
Ang pinakaimportante dito ay nakatugon tayo doon sa mga farmers,” said Gov.
Rodito.
LANDBANK remains the biggest lender to the agriculture sector, with loans reaching
P257.94 billion as of May 2022. The agriculture loans have financed various
economic activities of major players in the industry, including local government units
(LGUs).
While expanding its focus to assist other key sectors and industries in the country,
LANDBANK remains steadfast in fulfilling its primary mandate to deliver intensified
support to the agriculture sector.
