LANDBANK, Abra town sign P60-M loan for dev’t projects

November 18, 2021

Lagayan Mayor Edmarc L. Crisologo (2nd from left) and LANDBANK Ilocos Sur Lending Center Head Loida Arlene Ringor (3rd from left) lead the signing of a P60-million loan to finance various infrastructure projects for the Municipality. They are joined by Vice Mayor Apolinar Molina, Sr. (4th from left), Municipal Treasurer Jesus B. Dalangin (rightmost), and LANDBANK Account Officer Richard A. Refuerzo (leftmost).

LAGAYAN, Abra – The Land Bank of the Philippines (LANDBANK) and the Municipal Government of Lagayan in Abra province recently signed a P60-million loan to finance development projects to boost the local economy.

Facilitated by the LANDBANK Ilocos Sur Lending Center, the 15-year term loan will finance the rehabilitation of a municipal road between barangays Pulot and Poblacion, to significantly improve the movement of goods and the public within the municipality. The road serves as the main route linking all four of Lagayan’s barangays and connects the town to other adjacent municipalities.

The municipal road is seen to benefit Lagayan’s 4,617 residents, including 850 farmers and 625 fishers, and allows them to travel more safely and efficiently, especially when transporting agricultural goods to markets in nearby municipalities.

The road will also support increased tourism activity within the municipality. Local tourist attractions in Lagayan include the caves in Mount Gaco, Lusuac Sprint Resort, and whitewater tubing or bamboo rafting near Ar-Arbis Falls.

The P60-million LANDBANK term loan will also cover the purchase of a payloader to be used mainly in dredging the Palsuguan and Tineg rivers traversing Lagayan. This is part of the LGU’s efforts to prevent floods in rice fields and barangays caused by the natural build-up of debris and rising waters resulting from monsoon rains.

To further control seasonal flooding, the LGU will also use part of the LANDBANK loan to put up a drainage canal system in Barangay Poblacion to improve water drainage for the health and safety of residents.

“LANDBANK remains a ready and able partner of LGUs nationwide for various recovery and development initiatives. We will continue to serve local communities to spur economic activity, growth, and recovery,” said LANDBANK President and CEO Cecilia C. Borromeo.

Lagayan Mayor Edmarc L. Crisologo expressed his appreciation for LANDBANK’s financial support, which will also bankroll the construction of a Legislative Building and the rehabilitation of the municipality’s Evacuation Center to be able to accommodate more evacuees, especially during disasters. The Center will also serve as the operations hub for the Municipal Disaster Risk Reduction Management (MDRRM).

“May we continue and strengthen our partnership towards the success of every Lagayano’s dream. On behalf of my constituents, I am in deep gratitude for the helping hand extended by LANDBANK and the realization of the vision, dreams, and aspirations that Lagayanos have been longing for a long time now,” said Mayor Crisologo.

As of end-October 2021, LANDBANK has extended P62.06 billion in outstanding loans to LGUs nationwide. Of this amount, P22.96 billion financed various agri-aqua projects, including P5.82 billion and P5.23 billion for transportation and health-care initiatives, respectively.

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LANDBANK: P21.2-M aid released to 198 LGUs affected by Odette

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LANDBANK, Barili LGU sign P200-M loan for modern public market

Barili Mayor Julieto N. Flores (2nd from left), Barili Vice Mayor Luisito L. Ponsica (4th from left), Barili Municipal Treasurer Gamaliel S. Riconalla (1st from left) and LANDBANK Cebu South Lending Center Head, Vice President Allan R. Bisnar (3rd from left) sign a P200-million loan agreement to put-up a modern municipal public market.  BARILI, Cebu – The Land Bank of the Philippines (LANDBANK) and the Municipal Government of Barili recently inked a P200-million loan agreement to finance the construction of a modern public market that will support the livelihood of agricultural producers in the municipality. The LANDBANK loan will be used to replace the existing dilapidated public market with a new infrastructure that will be divided into three major structures. Two buildings will accommodate the dry goods section, while another building will house vegetables, fruits, and wet goods such as meat and fish. There will also be a covered parking area on the second floor. The new public market is expected to benefit 5,222 farmers and 1,900 fishers in the area with a more conducive and spacious venue to sell their produce. “LANDBANK fully supports initiatives that promote the growth and development of local entrepreneurs and agri-producers. We are one with our local government partners in ramping-up efforts towards serving their constituents and building stronger and more resilient local economies,” said LANDBANK President and CEO Cecilia C. Borromeo. Barili Mayor Julieto N. Flores is banking on the new public market to boost economic activity and attract more investments in the 2nd class Municipality, as more business establishments recover from the impact of COVID-19. “We will demolish the old Barili public market and construct the modern public market within one year, and we thank LANDBANK for supporting our plans and programs for the development of our Municipality as we recover from the pandemic,” said Barili Mayor Flores. In 2019, LANDBANK also financed the construction of the Mantalongon Livestock Auction Market for the traders in the locality, as well as from the neighboring provinces of Negros Oriental and Leyte. The Mantalongon Livestock Auction Market is currently the biggest livestock auction market in Cebu and the whole of Visayas.  LANDBANK continues to extend necessary credit assistance to local government units (LGUs) to spur recovery and inclusive economic development in the countryside. As of November 2021, LANDBANK has extended P63.96 billion in outstanding loans to LGUs nationwide. 


LANDBANK branches nationwide remain open

Despite a sudden surge of COVID-19 cases in the country, Land Bank of the Philippines (LANDBANK) announced that its branches nationwide shall continue to operate to serve the banking needs of its customers. In a statement, the state-run Bank said a number of LANDBANK branches in the National Capital Region (NCR) and most parts of Luzon, where COVID-19 cases remain high, are open Mondays through Fridays from 8:30AM to 2:00PM, while LANDBANK branches in Visayas and Mindanao will continue to follow the regular banking hours of 8:30AM to 3:00PM on weekdays.  However, some branches in NCR, Central Luzon and Southern Luzon are temporarily closed due to COVID-19 exposure of personnel and to give way to disinfection to ensure the health and safety of LANDBANK clients and employees. Meanwhile, the Bank's e-banking channels, such as the LANDBANK Mobile Banking App, iAccess, WeAccess, Link.BizPortal, Electronic Tax Payment System, Phone Access, and its ATM network, remain stable and available to the public 24/7. For a complete list of open and closed branches and their operating hours, please visit the LANDBANK website at Banking schedules of LANDBANK branches nationwide are also posted daily at the LANDBANK website, and at the Bank's official Facebook Page at @landbankofficial and Viber Community at @LANDBANK. With more Flipinos staying home as NCR and some parts of the country remain under Alert Level 3, LANDBANK once again reminded its customers to be cautious of online banking fraud and phishing activities. The Bank appealed to its clients to remain vigilant and ignore suspicious e-mails, text and social media messages, links and attachments from unknown senders. It also urged the public to be on the look-out for fake websites and social media accounts pretending to be LANDBANK by checking and verifying a suspicious site's URL, email address, social media account or phone number. Official LANDBANK representatives will never ask for a client's one-time passwords (OTPs), account details, and the card verification value (CVV) at the back of the card, among other security details, the Bank said.