LANDBANK, alongside government and public sector partners, launch the AGRISENSO Plus Lending Program which targets 10,000 small farmers, fishers, and agrarian reform beneficiaries to benefit from accessible credit assistance and capacity-building support to help improve productivity, enhance income, and advance sustainable growth.
CANDABA, Pampanga – LANDBANK, in collaboration with Department of Agriculture (DA), Department of Agrarian Reform (DAR), and other government and private partners, is strengthening its support for the agriculture sector through the launch of the AGRISENSO Plus Lending Program on 22 November 2024 at the Candaba Action Center in Brgy. Mandasig.
The AGRISENSO Plus Program, an enhanced version of LANDANK’s existing initiative, is designed to deliver a full suite of support—featuring expanded eligibility, lower interest rates, and simplified loan process to provide broader access to credit and other support interventions for small farmers, fishers, and agribusinesses, and other players in the agriculture value chain.AGRISENSO Plus targets 10,000 small farmers, fishers, and agrarian reform beneficiaries (ARBs) to benefit from accessible credit assistance and capacity-building support to help improve productivity, enhance income, and advance sustainable growth.
"AGRISENSO Plus reflects LANDBANK's commitment to providing holistic and meaningful support to the entire agriculture sector. Through strategic collaborations with public and private partners, we are complementing accessible credit with insurance benefits, capacity-building and other interventions to boost productivity, enhance income, drive sustainable growth, and contribute to national food security," said LANDBANK President and CEO Lynette V. Ortiz.
The AGRISENSO Plus Program launch brought together key government partners, including Presidential Adviser for Poverty Alleviation Secretary Lorenzo “Larry” G. Gadon, DA Undersecretary Asis G. Perez, DAR OIC-Director III Sieramon A. Lacambra, Agricultural Credit Policy Council (ACPC) Deputy Executive Director Cristina G. Lopez, and local government officials of the Province of Pampanga.
AGREA Agricultural Communities International Foundation, Inc. (AGREA) President and CEO Cherrie D. Atilano also attended as partner to provide capacity-building interventions to borrowers, together with LANDBANK Countryside Development Foundation Inc. (LCDFI).
Private sector partners likewise joined the launch such as SariSuki, an online community platform that connects small farmers directly to consumers for fresh produce; KITA Agritech, which provides technological solutions to enhance agricultural productivity and efficiency; and TAO Foods, a company focused on sustainable food production and processing.
The enhanced LANDBANK AGRISENSO Plus Program widens its scope to cover a broader range of beneficiaries, including small fishers, and micro, small, and medium enterprises (MSMEs) involved in the agricultural value chain.
Eligible borrowers also include agriculture graduates, who will now be eligible to access the Program within three years after graduation, nurturing the next generation of agri-entrepreneurs.
Beyond financing, AGRISENSO Plus also provides small farmers and fishers and ARB borrowers with free life insurance and credit life insurance. Program borrowers are also qualified for training and capacity-building programs to enhance agricultural practices and business management skills, supporting more sustainable and resilient agribusinesses.
LANDBANK has simplified the AGRISENSO Plus application process by reducing documentary requirements. Purchase Orders are no longer required for individual farmers, and endorsements from Irrigators’ Associations are no longer needed for farmers in irrigated areas. Meanwhile, ARBs who are also rice farmers now have the option to use endorsements from either the DAR or the NIA.
The AGRISENSO Plus offers a fixed affordable interest rate of 4.0% per annum for small farmers, fishers, and ARBs, while other borrowers benefit from a competitive rate of 6.5%-7.5% per annum.
Large enterprises and anchor firms lending to their partner small farmers and fishers and their cooperatives and associations, and ARBs and Agrarian Reform Beneficiary Organizations (ARBOs), also gain a concessional interest rate with a 0.5% discount, fostering collaborative growth across the agriculture value chain.
Existing AGRISENSO borrowers with approved credit lines will automatically transition to AGRISENSO Plus upon their next loan availment, allowing them to benefit from the program’s enhanced features.
Interested borrowers can apply for the AGRISENSO Plus Lending Program at any LANDBANK Lending Center or Branch, or by contacting LANDBANK’s Customer Service Hotline at 028405700.
Through the AGRISENSO Plus Lending Program, LANDBANK remains a steadfast partner in agricultural and rural development, helping to drive economic growth and food security for the nation.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation, and sustainable national development. Present in all 82 provinces in the county, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
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