(Top photo) Agusan del Norte Gov. Dale Corvera (7th from left) and LANDBANK President and CEO Cecilia C. Borromeo (8th from left) lead the ceremonial awarding of ACEF loans to palay farmer Agapito A. Bacalso Sr. (5th from right) and corn farmer Violita T. Prandas (4th from right) during the LANDBANK Financial Inclusion Forum in Las Nieves, Agusan del Norte attended by more than 600 small farmers (lower photo). Also introduced during the program was Baug CARP Beneficiaries MPC as the Bank’s Agent Banking Partners in Las Nieves, led by General Manager Luxmi Auxillo (5th from left). Joining them are Las Nieves Mayor Avelina Rosales (9th from left), Vice Mayor Larry Bautista (6th from left), and LANDBANK officials led by Branch Banking Sector Head EVP Joselito Gutierrez (3rd from left), Mindanao Lending Group Head FVP Charlotte I. Conde (2nd from left), East Mindanao Branches Group Head FVP Camilo C. Leyba (rightmost), and CARAGA Lending Center Head Department Manager Linbert Fajunio (leftmost).
LAS NIEVES, Agusan del Norte – For most residents of this 2nd class municipality in the northern part of the province, farming and fishing has been the way of life for its close to 30,000 residents, with the nearest banks and financial institutions still two hours away from the nearby cities of Bayugan and Butuan.
Las Nieves is one of the country’s 536 cities and municipalities out of 1,634 that have remained unbanked according to the 2017 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas (BSP).
This year, it is one of eight municipalities where Land Bank of the Philippines (LANDBANK) is launching its Agent Banking Program, which will provide the public with basic banking transactions such as Point-of-Sale (POS) cash-out, prepaid card sale, card reload/card refund/withdrawal, balance inquiry, and bills payment.
Through partnerships with client cooperatives, associations, small and medium enterprises (SMEs), and private entities, LANDBANK’s Agent Banking Program is targeted to further expand its reach in remote and unbanked areas without the Bank’s presence.
During LANDBANK’s 5th Financial Inclusion (FI) Forum for 2019 here last October 12, 2019, the Bank formally introduced the Baug CARP Beneficiaries MPC (BCBMPC) as its first Agent Banking Partner in Las Nieves.
Launched in 2016, and now on its fourth year run, the half-day forum, dubbed “Ipon at Kabuhayan para sa ating Kababayan,” gathered more than 600 attendees, majority of whom are farmers and agrarian reform beneficiaries (ARBs).
“This is part of LANDBANK’s efforts in bringing our products and services closer to the countryside. With this campaign, we hope to uplift the lives of our fellow Filipinos, particularly the small farmers and fishers, and their families, who are in dire need of financial support for their agricultural livelihood activities,” said LANDBANK President and CEO Cecilia C. Borromeo.
BCBMPC started as an association of small fishers of shrimps and crabs in 1987. By 1995, they were officially recognized by the Department of Agrarian Reform (DAR) as an ARB-cooperative with 110 members. They were first granted a production loan by LANDBANK on October 12, 1998.
And exactly 21 years later, on October 12, 2019, LANDBANK has now partnered with BCBMPC as the Bank’s Agent Banking Partner in Las Nieves under the Agent Banking Program. The Cabadbaran City-based cooperative now boasts of 20,000 coop members, with total assets of P700 million.
The LANDBANK FI Forum is an initiative of the Bank in line with its financial inclusion thrust of serving unbanked communities across the country. Since its launch, LANDBANK has helped bring over 10,000 underserved Filipinos under the umbrella of formal financial services from 28 municipalities.
Las Nieves is the 5th stop of the FI Forums this year. A total of 3,252 farmers and fishers have already participated in the first five areas of the FI Forums namely, Sto. Niño, Cagayan; Rizal, Palawan; Libacao, Aklan; and Aloguinsan, Cebu. FI Forums will also be conducted in Mayantoc, Tarlac; Claveria, Misamis Oriental; and Polillo Islands, Quezon within the year.
During the event, LANDBANK featured modules on financial literacy to help farmers improve their income through the proper management of finances, as well as Bank products and services, particularly its direct lending programs for farmers.
These programs include the Accessible Funds For Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs), the Agricultural Competitiveness Enhancement Fund (ACEF), and the Rice Competitiveness Enhancement Fund (RCEF).
At the same time, BCBMPC received a ceremonial check from LANDBANK in the amount of Php200 million representing its loan from the Bank for relending to small farmers and fishers.
Joining LANDBANK President Borromeo at the event were Agusan del Norte Governor Dale B. Corvera, Las Nieves Mayor Avelina S. Rosales, LANDBANK Executive Vice President for Branch Banking Sector Joselito P. Gutierrez, East Mindanao Branches Group Head First Vice President Camilo C. Leyba, Mindanao Lending Group Head First Vice President Charlotte I. Conde, CARAGA Lending Center Head Department Manager Linbert Fajunio, and Butuan Branch Head Department Manager Augustus Manuel E. Mantua.
Meanwhile, farmers who availed of the ACEF loan program were also recognized during the event, namely Agapito A. Bacalso Sr. (palay production) and Violita T. Prandas (corn production).
LANDBANK bankrolls P1.15-B waste-to-energy power plant in Nueva Ecija
Green Innovations for Tomorrow Corporation’s (GIFTC) rice husk-fueled power plant in Talavera, Nueva Ecija, recycles around 480,000 kg. of rice husks per day and can supply electricity to around 6,480 households. TALAVERA, Nueva Ecija – The Green Innovations for Tomorrow Corporation (GIFTC) has carried out an economical and sustainable solution to address the problem of agricultural waste in this province—recognized as the ‘rice granary’ of the Philippines—by converting rice husks as biomass into renewable energy. With rice production as the major source of livelihood in this palay-producing town, large volumes of rice husks are regularly being disposed of or burned in open fire, posing both environmental and health hazards to the community. GIFTC aspired to recycle and make this agricultural waste useful by establishing a biomass power plant that would generate electricity for households in the province. To help make this vision a reality, GIFTC sought financial assistance from the Land Bank of the Philippines (LANDBANK) and was granted loans in 2013 and 2018 totaling P1.15 billion under the Bank’s Renewable Energy Program. Part of the LANDBANK loan bankrolled the construction of GIFTC’s biomass power plant in 2016, which is currently operating at a capacity of 10.8 megawatts electric (MWe). The rest of the loan was allocated for the reimbursement of cost utilized for warehouses, dormitories and other structures, replacement or repair of power plant parts, permanent working capital, including the acquisition of rice husk. “LANDBANK was the first financial institution that believed in GIFTC’s vision for a sustainable future for our town, and for the whole country. We wouldn’t be where we are now if it weren’t for their assistance,” said Engr. Martin O. Vendivil, Assistant Chief Operating Officer of GIFTC. Through the services of a grid operator, GIFTC’s biomass power plant can supply electricity to an estimated 6,480 households in selected municipalities and cities in Nueva Ecija, including other areas in neighboring provinces. The GIFTC power plant consumes around 480,000 kilograms of rice husks per day bought from rice mills in the area, significantly decreasing agricultural waste in the town. More importantly, the energy corporation helps reduce the emission of greenhouse gases, while preserving the country’s natural resources by manufacturing a renewable energy source. “LANDBANK fully supports projects that harness the potential of renewable and alternative energy resources. We will continue to work with development partners in preserving our environment and promoting climate change adaptation,” said LANDBANK President and CEO Cecilia C. Borromeo. Through the LANDBANK Renewable Energy Program, the state-run Bank aims to finance the development of renewable energy sources and increase access to reliable, clean and sustainable power to help mitigate the effects of global warming and climate change in the country. Eligible borrowers such as electric cooperatives, local government units (LGUs), government-owned and controlled corporations (GOCCs), and government agencies may borrow up to 90% of the total cost of the project. Cooperatives, associations and private borrowers categorized as single proprietorships, partnerships, or corporations may also borrow up to 80% of the total project cost under the Program. Term loans for working capital and project preparation are payable up to five (5) years with a six-month grace period on principal payment, while loans for capital expenditure are payable based on the borrower’s cash flow up to 15 years, with a three-year grace period. The interest rate shall be based on the prevailing market rate but not lower than 5% per year. As of 31 March 2022, LANDBANK has approved loans totaling P20.1 billion to 56 borrowers nationwide under the Renewable Energy Program, underscoring the Bank’s thrust of promoting sustainable finance and development.
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LANDBANK scales up support for Bulacan with new corporate center
LANDBANK President and CEO Cecilia C. Borromeo (3rd from left), Bulacan State University President Dr. Cecilia S. Navasero-Gascon (5th from left), and Dr. Yanga’s Colleges, Inc. President Michael S. Yanga (4th from left) lead the inauguration of the LANDBANK Bulacan Corporate Center along McArthur Highway in Brgy. Dakila, Malolos City on 13 May 2022. Joining them are LANDBANK Executive Vice Presidents Julio D. Climaco, Jr. (leftmost) and Alan V. Bornas (rightmost), and LANDBANK Senior Vice President Randolph L. Montesa (2nd from left). MALOLOS CITY, Bulacan – Land Bank of the Philippines (LANDBANK) recently inaugurated a three-story corporate center along McArthur Highway in Brgy. Dakila, Malolos City to provide Bulaceños convenient access to a wide array of banking services. The LANDBANK Bulacan Corporate Center is designed as a one-stop shop for various banking and financial services, as it houses the Bank’s major touchpoints and offices. Located at the ground floor of the corporate center is the LANDBANK Malolos Highway Branch, which caters to nearby local government units, academic institutions, corporations, and individual depositors from the 51 barangays of Malolos City and the 29 barangays of the Municipality of Calumpit. Also situated in the building is the LANDBANK Bulacan Lending Center, which offers affordable financing for farmers and fishers, agribusinesses, micro, small and medium enterprises (MSMEs), countryside financial institutions, and local government units (LGUs), among others. LANDBANK President and CEO Cecilia C. Borromeo, Bulacan State University President Dr. Cecilia S. Navasero-Gascon, and Dr. Yanga’s Colleges, Inc. President Michael S. Yanga led the inauguration rites for the LANDBANK Bulacan Corporate Center on 13 May 2022. They were joined by LANDBANK Executive Vice Presidents Julio D. Climaco, Jr. and Alan V. Bornas, Senior Vice President Randolph L. Montesa, and other LANDBANK officials. “The LANDBANK Bulacan Corporate Center illustrates our continuing commitment to provide greater banking convenience and accessibility to our growing customers. We also hope that this serves as a landmark to generate livelihood and business opportunities to bolster Bulacan’s local economy,” said President and CEO Borromeo. Other LANDBANK field offices stationed in the Bulacan Corporate Center are the Bulacan Accounting Center, Field Legal Services, Area Legal Unit II, Property Valuation and Credit Information Department-Bulacan Field Team, and the Bulacan Loans Operations Field Unit. A dedicated space for the Commission on Audit Regional Office III was also provided within the corporate center. As of end-April 2022, LANDBANK has a total of 12 branches, one (1) lending center, and 51 automated teller machines (ATMs) across the Province of Bulacan. LANDBANK is the only bank present in all 81 provinces in the Philippines, with its continued expansion geared towards servicing the requirements of its diverse customer base, especially in unbanked and underserved areas.
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LANDBANK loans to agri sector reach P237-B as of Q1 2022
The Land Bank of the Philippines (LANDBANK) remains the biggest lender to the agriculture sector, with loans reaching P236.8 billion as of 31 March 2022. The loans were used to finance various economic activities of major players in the industry—from small farmers and fishers to large agribusiness enterprises, as well as local government units (LGUs) and government-owned and controlled corporations (GOCCs) for agri-aqua related projects and construction of needed infrastructure such as public markets, cold storages, irrigation systems, farm-to-market roads, warehouses, and slaughterhouses. Small farmers and fishers benefited from the P35 billion loans channeled through cooperatives and farmers’ associations, rural financial institutions and other partner conduits of LANDBANK. “We continue to intensify our support to the agri sector, particularly the farmers and fishers whom we celebrate in this month of May. LANDBANK is committed in delivering timely and responsive support to boost their production and income,” said LANDBANK president and CEO Cecilia C. Borromeo. Financing for small, medium, and large agribusiness enterprises accounted for P146.62 billion of the total loans, P55.19 billion supported LGUs and GOCCs, and the remaining P99.64 billion backed the construction and improvement of essential infrastructure. In terms of economic activities, P56.39 billion of LANDBANK’s total agri sector loans financed crops, livestock, and fisheries, while P80.83 billion was channeled to agri-processing and trading. As part of its intensified support to the agriculture sector, LANDBANK continues to implement regular loan offerings alongside lending programs in partnership with the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR). As of 31 March 2022, LANDBANK has released a total of P12.51 billion under the programs administered for DA, which include the Agricultural Competitiveness Enhancement Fund (ACEF), the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA), the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), the Survival and Recovery Assistance Program for Rice Farmers (SURE Aid), and SURE COVID-19. Meanwhile, the Bank’s cumulative loan releases under DAR’s Credit Assistance Program for Program Beneficiaries Development (CAP-PBD) has reached P700 million. LANDBANK remains fully committed towards advancing a more vibrant, productive, and resilient agriculture sector in line with serving the nation.
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