LandBank releases P4.7B in additional loans
Published on 19 October 2012 Hits: 106 Written by JAMES KONSTANTIN
GALVEZ REPORTER
STate-owned Land Bank of the Philippines (LandBank) has released an
additional P4.7 billion worth of loans in the first eight months of this
year as part of its effort to boost the government's thrust toward food
sufficiency and increase agricultural productivity.
LandBank President Gilda Pico said that since the start of the Food
Supply Chain Program (FSCP) in 2010, the total loan releases to
LandBank's priority sectors reached P14.5 billion, benefiting some 152
anchor firms and 410 cooperatives, farmers' organizations and producers
in Northern and Central Luzon.
The total amount includes P4.6 billion in loans to beneficiary projects,
firms, cooperatives and producers in Northern and Central Luzon; P3.5
billion in Visayas; P3.4 billion in Mindanao; and P3.1 billion in
Southern Luzon.
"We are pleased that the FSCP is further gaining momentum as more
farmers and fisher folk cooperatives and organizations, as well as SMEs
[small and medium enterprises] and NGOs [non-government organizations]
stand to benefit from the program," Pico said.
"We are committed to seeing this program to fruition as we endeavor to
provide better opportunities and improve the lives of our priority
sectors," she added.
The FSCP provides financial assistance to key players in the food system
such as agricultural producers, service providers, processors and
various market players; farms market linkages between agricultural
producers and processors; and offers capacity building support to
strengthen farmers' organizations and enable them to meet product
requirements of anchor firms.
Anchors firms are, in turn, expected to buy the produce of the
participating cooperatives and organizations, and provide technical
assistance to improve productivity and product quality.
Among the projects now being implemented are hog fattening; oil palm
production and processing; fruits and vegetable production and
processing; rice and corn production, processing and trading; banana
production and processing; fish production and processing; onion
production, cold storage and marketing; and sugarcane production and
milling.
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