State-owned Land Bank of the Philippines (LANDBANK) has allocated P20.9 million-worth of financial support for the quick recovery of 195 local government units (LGUs) from the onslaught of typhoon Odette.
Of the P20.9 million financial aid, the Bank has set aside P200,000 each for affected provinces, as well as P150,000 and P100,000 each for cities and municipalities, respectively.
“LANDBANK is exerting all efforts to extend immediate assistance to communities significantly affected by Typhoon Odette. Apart from ensuring cash availability and accessibility in these areas, we are also contributing to ramp-up relief and recovery interventions through our LGU partners,” said LANDBANK President and CEO Cecilia C. Borromeo.
Among the LGUs who have already received LANDBANK’s financial assistance include the Province of Southern Leyte; City of Maasin and Municipalities of Malitbog and Padre Burgos in Southern Leyte; and the Municipalities of Hilongos and Matalom in Leyte.
Donations have also been turned over to the City of Mandaue in Cebu; City of Bais in Negros Oriental; Municipality of Tubigon in Bohol; Municipality of Jordan in Guimaras; Municipality of Hinoba-an in Negros Occidental; Municipalities of Bataraza, Brooke’s Point and Coron in Palawan; and the Municipalities of Claver and Gigaquit in Surigao del Norte.
On top of its financial donation to LGUs, LANDBANK has also re-activated its LANDBANK AMBAG System (Alternative Mechanism of Benevolent Assistance for the Greater good), which is a cash donation campaign for the Bank’s employees and communities significantly affected by typhoon Odette.
Majority of LANDBANK branches and automated teller machines (ATMs) remain available to service the urgent banking needs of customers from affected areas. The Bank has also been working full-time to restore the availability of all its touchpoints affected by the typhoon at the soonest possible time.
LANDBANK assures available climate finance for adaptation, mitigation
LANDBANK President and CEO Cecilia C. Borromeo (2nd from left) and other LANDBANK senior officials join Albay Representative Joey S. Salceda (3rd from left) and National Security Adviser Secretary Clarita R. Carlos (leftmost) at the Disaster and Climate Emergency Policy Forum on 22 September 2022, to discuss strategies and interventions to combat climate change. The Land Bank of the Philippines (LANDBANK) assures local development stakeholders of continued access to climate finance under the Green Climate Fund (GCF), in support of projects for climate change adaptation and mitigation. The state-run Bank expressed its continuous commitment in contributing to address the climate crisis at the Disaster and Climate Emergency Policy Forum on 22 September 2022, organized by the Local Climate Change Adaptation for Development (LCCAD), University of the Philippines Resilience Institute (UPRI), 4K Foundation, Komunidad Global, Albay Embassy and Climate Change Commission (CCC), in partnership with the House of Representatives and the Office of Albay Rep. Joey S. Salceda. “LANDBANK stands ready to extend necessary credit assistance to boost national and local resiliency and adaptive capacity to climate change. We are collaborating with various development partners, such as the GCF, towards building a more sustainable future,” said LANDBANK President and CEO Cecilia C. Borromeo. The GCF is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement, dedicated to support global efforts to respond to the challenge of climate change. The program aims to help developing countries limit or reduce greenhouse gas (GHG) emissions and adapt to climate change, by supporting programs and projects that promote a paradigm shift to low-emission and climate-resilient development. As a Direct Access Entity (DAE) of the GCF, LANDBANK channels grants and loans provided by the GCF to finance local projects that aim to mitigate and adapt to climate change. The Bank leads the project development, management, monitoring and evaluation, in partnership with public and private entities. In April of this year, LANDBANK and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA) under the Department of Science and Technology (DOST) started the implementation of the very first GCF-approved project in the country. The GCF project titled, “The Multi-Hazard Impact-Based Forecasting and Early Warning System,” aims to shift from a traditional hazard-based to an impact-based forecasting and early warning system, to help the public take pre-emptive measures and improve disaster risk reduction in the long run. The project will benefit communities in the disaster-prone areas of Palo, Leyte; New Bataan, Davao de Oro; Tuguegarao City, Cagayan; and Legazpi City, Albay. LANDBANK is proposing for GCF approval eight other projects designed to promote climate change mitigation, adaptation and resiliency in the sectors of agriculture, health, transportation, renewable energy and energy efficiency, water resource management and ecosystem management. LANDBANK’s contribution to the GCF underscores its commitment to sustainable development and environmental protection, alongside facilitating the uninterrupted delivery of financial services to key economic development sectors. In his first address at the UN General Assembly on 21 September 2022 (Tuesday, September 20, New York Time), President Ferdinand R. Marcos, Jr. also urged developed countries to extend climate financing to countries that are most vulnerable to climate change.LEARN MORE
LANDBANK AgriSenso puts spotlight on affordable financing for agri players
(clockwise from upper left) LANDBANK Program Management Department I Head, Assistant Vice President Edgardo S. Luzano, together with Kuvi Integrated Farm owner Rogelio T. Giangan, Cagayan rice farmer Vanessa Morillo, and Dampe Palay and Sugarcane Producers Cooperative Chairperson Rodolfo H. Medina, leads the third run of the LANDBANK AgriSenso Virtual Forum, which puts the spotlight on the legislated programs jointly implemented by LANDBANK and the Department of Agriculture (DA) to support individual farmers and fishers and other agriculture players. State-run Land Bank of the Philippines (LANDBANK) remains aggressive in extending affordable financing for individual farmers and fishers, and other players in the agriculture value chain through loan programs jointly implemented by the Bank with the Department of Agriculture (DA). The third run of the LANDBANK AgriSenso Virtual Forum on 19 September 2022 featured loan availers, namely Kuvi Integrated Farm owner Rogelio T. Giangan from North Cotabato, rice farmer Vanessa Morillo from Sto. Niño, Cagayan, and Dampe Palay and Sugarcane Producers Cooperative Chairperson Rodolfo H. Medina from Floridablanca, Pampanga, who shared how their productivity and income improved following the financial support from LANDBANK and DA. LANDBANK Program Management Department I Head, Assistant Vice President Edgardo S. Luzano discussed available financing with as low as 2% annual interest rate for individual farmers and fishers and their cooperatives and associations, as well as for micro and small enterprises (MSEs). Under the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, LANDBANK provides credit assistance for the purchase of farm inputs and acquisition of agricultural fixed assets. The loanable amount for individual farmers and fishers is up to P1 million, while cooperatives, associations and MSEs may borrow a maximum of P5 million. As of 31 August 2022, the Bank has released a total of P8.1 billion in loans to over 35,500 borrowers under the ACEF Lending Program. LANDBANK also implements the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), which aims to help increase the productivity, efficiency and profitability of rice farmers and their cooperatives. Eligible program borrowers may avail of up to 90% of their total project cost. Since the implementation of ERCA-RCEF in 2019, a total of P1.7 billion in loans has been released to more than 5,700 borrowers, including 46 cooperatives and associations that assisted over 18,300 farmers and fishers. In support of the development of the country’s sugar industry, LANDBANK is also implementing the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA). This facility is made available to individual sugarcane farmers, cooperatives, associations and common service centers, to finance up to 90% of their total project cost or financing requirement. As of end-August 2022, the Bank’s loan releases under SCP-SIDA amounted to P612.3 million for 2,651 borrowers, benefiting over 6,700 sugarcane farmers. The next run of the AgriSenso Virtual Forum will be held on 26 September 2022 to discuss other lending programs designed for small farmers and fishers, and agrarian reform beneficiaries (ARBs).LEARN MORE
LANDBANK, Bongabong LGU lead groundbreaking of Agri-Hub
Bongabong Municipal Mayor Elegio A. Malaluan (5th from left) and Vice Mayor Richard S. Candelario (4th from left), together with LANDBANK representatives, lead the groundbreaking ceremony at the LGU municipal compound on 6 September 2022. The activity was witnessed by LGU officials and several local businessmen from the Municipality. BONGABONG, Oriental Mindoro – To better serve the requirements of farmers and fishers, a Land Bank of the Philippines (LANDBANK) Agri-Hub will soon rise at the compound of the Municipal Government of Bongabong. Bongabong Mayor Elegio A. Malauan, together with LANDBANK Oriental Mindoro Lending Center Head, Assistant Vice President Edwin Roel Ramos; Calapan San Vicente Branch Head, Department Manager Ferdinand E. Abas; and Pinamalayan Branch Head Lizza Mae D. Camposano, led the groundbreaking ceremony on 6 September 2022. Mayor Malauan expressed his gratitude to LANDBANK, as the new touchpoint in the locality will spur local economic growth and development—which are priorities under his administration. “The establishment of this Agri-Hub is a testament to our continued commitment to serve key players in the agribusiness value chain. We hope to generate more economic opportunities and activities in the Municipality and nearby areas,” LANDBANK President and CEO Cecilia C. Borromeo said. The construction of the LANDBANK Bongabong Agri-Hub is set to commence within the month and expected to be inaugurated in late December 2022, in addition to the Bank’s 10 existing Agri-Hubs nationwide. The Bongabong Agri-Hub will provide accessible financial services mainly to the 12,233 farmers and fishers in the Municipality, to complement the nearest LANDBANK Lending Center in Calapan City. The Agri-Hub will also deliver banking services to public and private clients of the Bank, including 5,360 beneficiaries of National Government’s Conditional and Unconditional Cash Transfer (CCT/UCT) Programs in the Municipality. The LANDBANK touchpoint will be equipped with various digital banking platforms, including the Digital Onboarding System (DOBS), which simplifies the account opening process for new clients to only 10-15 minutes.LEARN MORE