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(left photo) The LANDBANK-financed Baculud Overflow Bridge in Ilagan City, Isabela, allows for easier and safer transportation for residents and vehicles from the City’s northeastern barangays to its Centro Poblacion Barangay Cluster. (right photo) From having a small infirmary solely catering to the medical needs of Ilagueños, the Ilagan LGU also tapped LANDBANK to fund the construction of the City of Ilagan Medical Center (CIMC) building to widen healthcare access in the City.
ILAGAN, Isabela – From being one of the poorest municipalities in Isabela over a decade ago, this first-class City now boasts of a vibrant and fast-growing economy driven by major infrastructure projects financed by the Land Bank of the Philippines (LANDBANK).
Under the leadership of City Mayor Josemarie L. Diaz, the local government unit (LGU) of Ilagan and LANDBANK maintain a strong partnership geared towards the development of the City, with a total loan exposure amounting to P3.5 billion.
“Talagang malaki ang naitulong ng LANDBANK sa amin. Halos lahat ng improvement sa Ilagan City ay dahil sa aming pakikipagtulungan sa LANDBANK,” said Mayor Diaz.
In support of Ilagan’s development plan, LANDBANK financed the construction of four essential bridges in the City, including the Baculud Overflow Bridge in Brgy. Baculud and the Cabisera 8 Overflow Bridge in Brgy. Santa Maria.
These two overflow bridges significantly increased the mobility of Ilagueños, who previously used boats and bamboo rafts to travel across rivers to reach other parts of the City. The bridges also improved the access of residents from remote barangays to basic and support services, such as to their local hospital and public market.
LANDBANK likewise financed the concreting of road networks in Ilagan City to enhance the connectivity between its 91 barangays, which is already 90% completed as of end-January 2023.
Built with street lamps and concrete drainage, the concrete road network has made transportation safer and more efficient even in remote areas, especially for farmers who previously struggled to transport their agricultural produce to the market.
Facilities for healthcare, recreation, and public services LANDBANK also supports the LGU’s priority projects to provide better healthcare and public services.
At the height of the COVID-19 pandemic in 2021, the LANDBANK-financed City of Ilagan Medical Center (CIMC) was opened to initially serve as an isolation facility for COVID patients. From having a small infirmary, the enhanced 100-bed CIMC now provides advanced medical services, such as endoscopy, radiology, and hemodialysis.
The hospital has already received three International Standardization Organization (ISO) Certifications for Quality Management System, Environment Management System and Occupational Health and Management System.
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In 2007, LANDBANK approved a P65-million loan to fund the construction of Ilagan’s Municipal Hall – now a City Hall – in Brgy. San Vicente.
For the safety and convenience of its constituents and local government employees, LANDBANK likewise financed the construction of the then Ilagan Municipal Hall (now a City Hall) and multi-purpose barangay halls in the City.
Other projects of the LGU backed by the Bank include a sanitary landfill for sustainable waste disposal; a new public market that serves as a central hub for vendors; and daycare centers for children.
The Ilagan LGU also partnered with the Bank to finance the construction of recreational facilities in the City, including the new Ilagan Sports Complex, a local mall and hotel, as well as a multi-purpose commercial building, all of which generate significant revenue for the LGU.
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The modern Ilagan Sports Complex funded by LANDBANK hosts national tournaments for various sports and houses a track and field oval certified by the International Association of Athletics Federations (IAAF).
P900 million of the LGU’s total loan will finance lot acquisition in the barangays of Alibagu, Marana 1st and Lullutan for various development projects, including the construction of 94 housing units in Alibagu. The loan will also be utilized for the expansion of the Ilagan City Hotel and Convention Center, as well as the establishment of CIMC’s Contagious Disease Building.
This will also fund the construction of a public market building in Brgy. Hacienda San Antonio and a bagsakan center with cold storage for agricultural products in Brgy. Marana 1st.
“Simula nung kami ay isang municipality pa lamang, nagtiwala na ang LANDBANK sa amin. Kasama namin ang LANDBANK na lumaki at lumago, at ngayon, we can already provide complete and quality services for the welfare of our people. Kaya malaki ang aming pasasalamat sa LANDBANK,” Mayor Diaz added.
With the help of LANDBANK, the LGU’s assets grew from P700 million in 2007 to P7 billion in 2022.
LANDBANK remains the biggest development partner of LGUs, in fulfilment of the Bank’s mandate to spur countryside development in stride with nation-building.
As of end-2022, the Bank’s outstanding loans to LGUs nationwide have reached P91.5 billion in support of local development projects, which include agri-related infrastructure, hospitals, schools, and utilities.
Empowering farmers and fishers nationwide: LANDBANK accelerates agri financing rollout in Mindanao
LANDBANK empowered over 1,200 farmers from across Bukidnon with the launch of the AGRISENSO Plus Lending Program in Mindanao on 20 June 2025 at the Kaamulan Grounds in Malaybalay City. MALAYBALAY CITY, Bukidnon – As part of its nationwide thrust to strengthen food security and drive rural development, LANDBANK launched its flagship AGRISENSO Plus Lending Program in this City, the initiative’s first major rollout in Mindanao. The event gathered over 1,200 small farmers, fishers, and agrarian reform beneficiaries (ARBs) from across the province, reinforcing the Bank’s commitment to expanding financial access and support for agri-based communities. Finance Secretary and LANDBANK Chairman Ralph G. Recto commended the initiative, which is in line with President Ferdinand R. Marcos, Jr.’s goal to boost the agriculture sector, accelerate rural development, and strengthen the country’s food security. “Ang programang ito ng LANDBANK at ni Pangulong Bongbong Marcos, Jr. ay isang konkreto at inklusibong sagot sa matagal niyo nang panawagan na tulong pinansyal. Ito ay programang may malasakit—at may malinaw na pangarap na gawing abot-kamay ang pag-asenso ng bawat magsasaka at mangingisda,” Secretary Recto said in a message during the launch event on 20 June 2025 at the Kaamulan Theater, Kaamulan Grounds, Malaybalay City. The AGRISENSO Plus Lending Program launch in Bukidnon is the fifth in a series of nationwide rollouts, following successful launches in Pampanga, Cagayan, Isabela, and Batanes, which collectively engaged more than 3,800 farmers from Northern and Central Luzon. LANDBANK President and CEO Lynette V. Ortiz led the program launch, together with Bukidnon Governor Rogelio Neil P. Roque and Department of Agriculture Undersecretary Roger V. Navarro. Also present were Philippine Guarantee Corporation President and CEO Albert E. Pascual, Malaybalay Mayor Jay Warren Pabillaran, LANDBANK Executive Vice Presidents Ma. Celeste A. Burgos and Leila C. Martin, and farmer leader Bambi A. Lagata from Jasaan, Cabansalan. “Bukidnon plays a vital role in ensuring food security for Mindanao and the rest of the country. With its rich soil and favorable climate, the Province continues to lead in the production of rice, corn, sugarcane, pineapple, coffee, and many other high-value crops. Our efforts through AGRISENSO Plus are also in step with the Provincial Government’s agenda of building a stronger economy and increasing agricultural productivity,” said LANDBANK President and CEO Ortiz. Strengthening agri financing and building capacity The AGRISENSO Plus Lending Program is LANDBANK’s comprehensive value chain-based financing initiative, developed in partnership with the DA, Department of Agrarian Reform (DAR), Agricultural Credit Policy Council (ACPC), and various private sector stakeholders. The Program offers a fixed interest rate of 4.0% per annum for small farmers, fishers, and ARBs, with competitive rates for their associations and organizations, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates. Under the AGRISENSO Plus Program, eligible borrowers benefit from simplified documentation requirements, free life and credit life insurance, and expanded access to financing and technical support across a wide range of agricultural activities. The Program also connects borrowers to market opportunities through partnerships with anchor firms, namely Kita Agritech Corporation, Sarisuki Stores, Inc., TAO Foods Company, Inc., Yovel East Research and Development, Inc., and Unified Tillers Agriculture Cooperative (UTAC). AGRISENSO Plus is reinforced by the LANDBANK ASCEND (Agri-Fishery Support through Capability Enhancement for Nationwide Development) Program, a capacity-building component that provides farmers and fishers with training on digital financial literacy, sustainable agriculture, and enterprise development. As of May 2025, LANDBANK has extended a total of ₱1.16 billion in loans through AGRISENSO Plus, directly benefiting 6,853 borrowers and advancing growth across the agriculture sector. LANDBANK remains steadfast in its mandate to advance countryside development by scaling up inclusive and sustainable financing for the agri value chain — empowering small producers, driving productivity, and helping lay the groundwork for a more food-secure Philippines. 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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Recto commends LANDBANK for declaring its single highest dividends in history to benefit Filipinos
Finance Secretary and Land Bank of the Philippines (LANDBANK) Chair Ralph G. Recto has praised the state bank for declaring PHP 33.5 billion in dividends––its single highest dividend yield in its history, with millions of Filipinos expected to benefit. The dividend remittance is in line with President Ferdinand R. Marcos, Jr.’s directive to uphold fiscal discipline, ensuring that the government maximizes non-tax revenues to fund priority programs without the need to impose new taxes on the people. “Ang halagang ito ay resulta ng kusang pagbubuti ng serbisyo ng LANDBANK. Ibig sabihin, mas maraming magsasaka ang nabigyan ng murang pautang, mas maraming mangingisda ang naabutan ng tulong, at mas masigla ang daloy ng kapital sa tinatawag nating countryside economy,” he said in his speech at the ceremonial turnover on June 9, 2025. “Kaya naman hindi lang po tseke ang inabot niyo ngayong araw, kundi pag-asa para sa milyon milyong Pilipinong makikinabang dito,” the LANDBANK Chair added. Under Republic Act No. 7656 or the Dividend Law, Government Owned and Controlled Corporations (GOCCs) are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government. To maximize non-tax revenue, the Department of Finance (DOF) has requested GOCCs to increase this share to 75%. Secretary Recto thanked the DOF’s Corporate Sector and Strategic Infrastructure Group (CSSIG) for their impeccable work in helping oversee the country’s GOCCs, ensuring transparency, accountability, and genuine service for the Filipino people. “This dividend remittance to the National Treasury is living proof that when a government financial institution serves the people well, the nation reaps greater rewards,” he said. In 2024, LANDBANK remitted PHP32.12 billion in dividends — the highest among all GOCCs. With this year’s PHP33.53 billion declaration, LANDBANK maintains its standing as the top dividend contributor among GOCCs for the second consecutive year. “Our continued solid performance affirms LANDBANK’s role as a reliable partner of the National Government in its infrastructure push, its support to the agriculture, education and healthcare sectors. This is LANDBANK’s value to the Filipino people: clear in its impact and rooted in its mission,” said LANDBANK President and CEO Lynette V. Ortiz. Meanwhile, LANDBANK posted a solid PHP 13.29 billion net income for the first quarter of 2025, up 11% from PHP 11.98 billion year-on-year and 32% above its first quarter target. LANDBANK’s total assets also grew to PHP 3.43 trillion, up 5% year-on-year from PHP 3.27 trillion, driven by expansions in both loan and investment portfolios. Present during the turnover were DOF Chief of Staff and Undersecretary Maria Luwalhati Dorotan Tiuseco, CSSIG Undersecretary Rolando Tungpalan, and National Treasurer Sharon P. Almanza. (Press release courtesy of Department of Finance)
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Resilience beyond the Shoal: Zambales fisher turns the tide by casting new net of hope
Paolo E. Quitaneg, a fisher from Zambales, secured a loan from LANDBANK to finance the construction of fish aggregating devices or “payaos,” which allow his family to continue earning a living even without entering the disputed waters of Scarborough Shoal in the West Philippine Sea. IBA, Zambales — Thirty-five-year-old fisher Paolo E. Quitaneg comes from a family that casts their nets and hopes into the sea. From an early age, he witnessed how the bountiful waters of Scarborough Shoal in the West Philippine Sea — locally known as Bajo de Masinloc or Panatag Shoal — sustained their livelihood and nourished countless generations before him. But in 2012, the tides suddenly turned. Due to escalating geopolitical tensions in the area, access to this traditional fishing ground, which Paolo described as a “true paradise,” was restricted. For small fishers like him, the loss of Scarborough Shoal meant not just a lost catch, but the unraveling of an entire way of life. Despite the risks, Paolo and fellow fishers tried to continue fishing in the area, But the rising presence of large foreign vessels made each trip more dangerous, as local fishers were intercepted, and faced threats and harassment at sea, with warning signals often blaring before they could even draw close to the shoal. “Yung huling punta namin doon noong 2024, ni-radyo agad kami. Andun ‘yung kaba at takot na baka masira ang bangka namin, kaya hindi na kami bumalik. Lahat kami dito sa buong Zambales apektado, at nawalan ng magandang kita kasi ‘yun talaga ang pangunahing pinagkukunan namin ng kabuhayan,” Paolo shared, adding that they even had to sell their boat just to make ends meet. (“Our last trip there was in 2024, and we were immediately warned through a radio. We felt the fear and anxiety that our boat might get damaged, so we never returned. All of us here in Zambales were affected and lost a good source of income because that was our main livelihood,” Paolo shared.) Charting a safer course with payaos As the country pursues diplomatic solutions to ease maritime tensions, Paolo’s family chose to chart a different course. In 2022, they established and registered LIMVQS Enterprise as a small business operating fish aggregating devices — locally called payaos — as an alternative method of drawing fish closer to shore. Since then, Paolo’s family has acquired a fishing vessel to sustain their operations. These fish aggregating devices, typically made from styrofoam, old tires and net, are set up about 15 nautical miles offshore to attract fish and encourage spawning. After about three weeks, the fish can be harvested using large nets. This has allowed Paolo’s family to secure a steady catch and income without venturing into the contested waters of Scarborough Shoal. Scaling up with LANDBANK’s support Recognizing the potential of payaos as a safer and more sustainable alternative to traditional fishing, Paolo turned to LANDBANK in 2024 to scale up their operations. He applied for financial assistance to construct 10 new payao units, each costing around P100,000. Through the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, jointly implemented by LANDBANK and the Department of Agriculture (DA), Paolo was granted a loan with a low annual interest rate of only 2%. Under this Program, farmers and fishers can borrow up to ₱1 million, while cooperatives, associations, and micro, small, and medium enterprises (MSMEs) can access loans up to ₱5 million. “Nagulat kami — mayroon pa palang ganitong bangko. Hindi ako nahirapan, very friendly ang mga staff. Binigyan nila ako ng magagandang options at inalalayang makumpleto ang mga requirements. Ganoon pala ang LANDBANK — tutulungan ka para maiangat ka, para makakuha ka ng magandang kabuhayan,” said Paolo (“We were surprised — we didn’t know there was still a bank like this. I didn’t have a hard time, the staff are very friendly. They gave me good options and guided me through the requirements. That’s what LANDBANK is like — they help you rise, so that you can build a better livelihood,” said Paolo.) In January 2025, Paolo’s family deployed their new payaos off the coast of Zambales. Their catch grew significantly from roughly 16,000 kilos to nearly 50,000 kilos per month, allowing them to supply public markets as far as Malabon, where prices are more favorable. With a steady income, they were able to save enough to place a down payment on their first delivery truck, saving P25,000 on truck rental costs for every trip to Malabon Public Market. Now, they keep more of their earnings to better support their family’s needs. From safer seas to thriving communities With support from LANDBANK, Paolo’s family has provided safe and sustainable livelihoods for 36 local workers, while ensuring a steady supply of fresh fish from Zambales to Metro Manila. What began as a lifeline for Paolo’s family has since become a source of hope for others. The LIMVQS Enterprise now provides livelihood for 36 local workers hired as harvesters and porters, who no longer risk their safety at sea to earn a living. Local dealers across Zambales have also benefited from the increased fish supply, which has helped stabilize market availability and prices. The ripple effect extends to Metro Manila, where consumers now enjoy a steady supply of affordable, fresh, and responsibly-sourced fish. “Nagpapasalamat po ako sa LANDBANK, sa Department of Agriculture, at sa aming LGU na nagbigay ng endorsement at suporta para kami ay makahiram ng sapat na puhunan. Kahit kami ay mula sa marginalized sector, pinaramdam ninyo ang tiwala at suporta para kami’y makabangon at umasenso,” Paolo expressed. (“I am grateful to LANDBANK, the Department of Agriculture, and our LGU for the endorsement and support that allowed us to secure enough capital. Even though we come from the marginalized sector, you showed us trust and support to help us recover and improve our livelihood,” Paolo expressed.) Looking ahead, Paolo plans to apply for another loan from LANDBANK once the first loan is fully paid. He will use the fund to purchase a second truck to expand deliveries to other provinces, such as Laguna. Fueling the current of progress LANDBANK continues to intensify its support across the entire agriculture value chain — from small farmers and fishers to agribusinesses. As of March 2025, the Bank’s agriculture, fisheries, and rural development (AFRD) loan portfolio has grown to ₱844.61 billion, accounting for 53.4% of its total gross loans of ₱1.58 trillion. Between January and March alone, LANDBANK assisted almost 28,000 new small farmers and fishers, bringing total beneficiaries nationwide to 4.04 million. These were supported through direct lending, partnerships with credit conduits, and capacity-building initiatives. 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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