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LANDBANK funds 40-M municipal hall in Nunungan, Lanao del Norte


December 11, 2020

An artist’s perspective of the three-storey municipal hall of the Municipality of Nunungan in Lanao del Norte, expected to be completed next year through a P40-million term loan from the Land Bank of the Philippines (LANDBANK). (inset) Nunungan Mayor Marcos M. Mamay (3rd from left) and Treasurer Leonides B. Seronio (2nd from left) sign a loan agreement with LANDBANK Lanao Lending Center Head Nena P. Mendoza (1st from left) and Account Officer Virginia C. Gallego (4th from left) to finance the construction of the new municipal hall.

NUNUNGAN, Lanao del Norte – Nestled in the hinterlands of Lanao del Norte, this third-class municipality is now getting more attention as an eco-tourism sanctuary and an investment haven down south. With the recent completion of the town’s national road concreting project—seamlessly connecting its 25 barangays—the journey of Nunungan towards a more progressive community is well underway.

As part of its vision to better serve its constituents and accommodate its growing visitors, tourists and investors, the Municipal Government of Nunungan aspires to have a modern, spacious and well-structured municipal hall. And backed by Land Bank of the Philippines (LANDBANK), the construction of the building becomes possible, and will likely be completed by next year.

This developed after the local government signed a P40-million term loan agreement with LANDBANK last September 9, 2020 for the construction of a three-storey municipal hall in Sitio Bobong, Barangay Katubuan. The loan signing was led by Nunungan Mayor Marcos M. Mamay and Treasurer Leonides B. Seronio, together with LANDBANK Lanao Lending Center Head Nena P. Mendoza and Account Officer Virginia C. Gallego.

“Ito ang pinakamatagal na naming plano, na magkaroon kami ng modern municipal hall. Knowing na competitive na ang Nunungan dahil sa mga tourist attractions, pinagsisikapan talaga namin na magkaroon ng bagong municipal hall. Madaming dumadayo dito pero wala tayong maayos na municipal hall for accommodating them and their needs,” said Mayor Mamay.

Once completed, the new municipal hall will be a significant part of the municipality’s vision of creating a government center with a grandstand, health center, fire station, and outdoor courts, among others, which Mayor Mamay envisions as another landmark site in the town, and will bring greater convenience to local residents who need to transact with various government offices.

The new hall will likewise serve as a facility to accommodate the existing and potential investors of the municipality. These investors are also expected to benefit from the unified services of the local government, especially in processing business permits.

Prior to the P40-million loan, the local government also borrowed a total of P75.2 million from LANDBANK in 2015 which was used to acquire heavy equipment that includes a six-wheeler dump truck, 10-wheeler dump truck, prime mover, low bed trailer, motor grader, vibratory compactor, and bulldozer. These are being utilized for the construction of new roads across the town, and the periodic maintenance of existing roads to ensure easy access to farms and timely transport of goods to the market.

“We at LANDBANK commit ourselves to improving the lives of all Filipinos by providing the needed financial support of LGUs in rolling out development projects in their localities. We always look at our LGUs as valuable allies in promoting development that is inclusive and sustainable,” said LANDBANK President and CEO Cecilia C. Borromeo.   

Aside from delivering intensified support to the agriculture sector, LANDBANK has been supporting local government units (LGUs) across the country to accelerate local growth.

As of October 31, 2020, LANDBANK has extended loans to LGUs amounting to P51.59 billion, with P17.18 billion of this representing loans to finance agri-aqua projects, including farm-to-market roads, slaughterhouses, and irrigation systems.

For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).


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LANDBANK-backed co-op empowers rice, onion farmers in Nueva Ecija

TALAVERA, Nueva Ecija – For the longest time—despite working long, hard days in the field—rice farmer Ricardo Buenaventura struggled to improve his farm’s productivity and profitability due to lack of capital.  Ricardo could not pursue opportunities that would help expand his operations, such as acquiring a bigger farmland or investing in farm mechanization, with income that was just enough to sustain his family’s daily needs.  Determined to provide a better life for his family, Ricardo called on his fellow farmers facing similar challenges to work together to boost their production and income. They officially formed the Nagkakaisang Magsasaka Agricultural Primary Multi-Purpose Cooperative (PMPC) in 1992 with 16 members, and Ricardo as their Chairman.  As a newly-established cooperative, seeking credit assistance to support their operations proved to be a hurdle seemingly too difficult to overcome. Lenders often turned them away or offered hefty interest rates they could not afford at the time.  They found the boost they needed when Land Bank of the Philippines (LANDBANK) granted the co-op their very first loan amounting to P120,000.00 to fund their working capital.  “Nagtiwala sa amin ang LANDBANK kahit nagsisimula pa lamang ang aming kooperatiba. Binigyan nila kami ng pagkakataon para palakasin ang aming koop at pagbutihin ang aming kabuhayan,” said Buenaventura.  Growing with LANDBANK The co-op invested in farm machinery and equipment such as hauling trucks and mechanical dryers, and was able to improve its production to around 70,000 - 100,000 sacks of rice per cropping season. That initial partnership has come a long way. LANDBANK has since increased its total loan to Nagkakaisang Magsasaka Agricultural PMPC to P1 billion to fund its expanded operations, which now include relending to finance the production of its members, rice and agri-inputs trading, diesel retailing, rice milling, onion cold storage rental and trading, and importation of milled rice and fertilizers produced by the co-op. LANDBANK has also financed the construction of warehouses and an onion cold storage, as well as the purchase of farm machinery and equipment to improve agricultural productivity.  From having only 16 members, Nagkakaisang Magsasaka Agricultural PMPC’s membership base has grown to 1,500 consisting of farmers producing rice, onion and other high-value crops, backyard poultry and livestock raisers, and micro, small and medium enterprises (MSMEs) such as sari-sari store owners. 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His culinary journey began at the Regency Park Institute of TAFE in Adelaide, Australia, where he honed his skills through various kitchen jobs before returning home to the Philippines. In Manila, he spent three years refining his culinary skills at the prestigious Tivoli Grill in the Mandarin Oriental Manila. In 2002, Chef Tony Boy's culinary dream materialized with the opening of his namesake restaurant in Tagaytay City. The establishment quickly became a hallmark of fine dining, lauded for its exquisite cuisine and impeccable service.  Antonio’s Restaurant soon garnered numerous accolades as one of the country’s most celebrated restaurants. From 2007 to 2014, it consistently won the Best Continental Restaurant Award at Manila's Best Kept Restaurant Secrets Awards. From 2008 to 2013, it was the sole Filipino entry in the Miele Guide's Top 20 Southeast Asian restaurants, even reaching number five in the 2010 edition. 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