Landbank releases P4.7-B loans to agri sector
By Donnabelle L. Gatdula (The Philippine Star) Updated November 05, 2012
12:00 AM Comments (0)
MANILA, Philippines - State-run Land Bank of the Philippines has loaned
out an additional P4.7 billion from January to August this year to
support the continuing growth in the agricultural sector, a top bank
official said.
Landbank president and CEO Gilda Pico said releasing more loans to the
agricultural sector is consistent with their thrust towards food
sufficiency and increased agricultural productivity.
Pico said with these new loans, the total loan releases since the
program started in October 2010 amounted to P14.5 billion, benefiting
152 anchor firms and 410 cooperatives, farmers' organizations and NGO
producers.
These include 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, at Landbank, are pleased that the Food Supply Chain Program is
further gaining momentum as more farmers and fisherfolk coops and
organizations, SMEs, and NGO producers stand to benefit from this
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."
The Food Supply Chain Program provides financial assistance to key
players in the food system such as agricultural producers, service
providers, processors and various market players.
Pico said the program also forms market linkages between agricultural
producers and processors.
The program, she said, likewise offers capacity building support to
strengthen farmers' organizations and enable them to meet product
requirements of anchor firms.
She explained that 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; cardava
banana production and processing; fish production and processing; onion
production, cold storage and marketing; and sugarcane production and
milling.
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