DSWD, Landbank fortify partnership for 4Ps

DSWD, Landbank fortify partnership for 4Ps


The Department of Social Welfare and Development (DSWD) and the Land Bank of the Philippines (Landbank) last week signed a memorandum of agreement (MOA) to further fortify the on-going implementation of the Pantawid Pamilyang Pilipino Program (4Ps), the National Government’s flagship program on poverty reduction and social development.

The agreement provides for additional payment and distribution modes of the cash grants to beneficiaries.

Aside from Over-the-Counter transactions and the Landbank Cash Card, cash grants can now be claimed via countryside financial institutions such as rural banks, cooperative banks, and thrift banks; cooperatives and Non-Government Organizations (NGOs), and telecommunication companies.

Another major component of the MOA signed today by DSWD Secretary Corazon J. Soliman and Landbank president Pico is the creation of a National Coordinating Committee to oversee the successful implementation of the Program, and a National Action Center and Regional Action Centers to ensure the program’s widest coverage nationwide.

4Ps is administered by the DSWD that provides cash grants to extremely poor households.

Landbank serves as the depository and disbursing bank of the Program.

As of June 30, 2011, LANDBANK has disbursed a cumulative total of P20.05 billion cash grants, reaching 1.6 million beneficiaries nationwide.

Becoming more aggressive in its lending activities especially to its priority sector, Landbank earlier said that its total regular loans expanded by 9.4 percent from P195.2 billion in 2009 to P213.5 billion in 2010.

Pico attributed the expansion of Landbank’s loan portfolio to the strategic efforts taken by the bank to further strengthen its support particularly for key sectors and projects with high development impact.

These include food and agri-commodity exporters, farmers and fisherfolk cooperatives, water and environment projects as well as microenterprises and SMEs, countryside financial institutions and local government units.

"The expansion in Landbank’s loan portfolio is also reflective of the aggressive focus on credit outreach and the gains achieved in countryside development," Pico said.

For 2011, Landbank is targeting to expand loans by 8 to 9 percent primarily for agribusiness, agri-infrastructure, LGUs and other development projects.
 
 

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