KEEP THE MUSIC PLAYXING: Members of the Bohol Persons with Disability (PWD) Workers Multi-Purpose Cooperative (MPC) continue to play at the Tagbilaran Pier with support from the Land Bank of the Philippines (LANDBANK).
BOHOL – Amidst the daily hustle and bustle in this Province’s major airport and seaport terminals, an ensemble of visually impaired musicians entertains and comforts passengers with their soothing voices and pitch-perfect harmonies.
With their distinct black glasses, acoustic guitars and percussions, these talented individuals perform old to contemporary hits from early morning to seven o’clock in the evening, making the trips of visitors a memorable experience.
Performing for arriving and departing passengers serves as the primary source of income for 41-year-old Junare “Jun” A. Baculio to sustain the daily needs of his family. Jun also leads fellow visually impaired performers as the general manager of the Bohol Persons with Disability (PWD) Workers Multi-Purpose Cooperative (MPC), which started in 2016 and is composed of 63 members with different disabilities.
The Bohol PWD Workers MPC mainly sources funds from busking at different local airports and seaports, including the Bohol-Panglao International Airport and the Tagbilaran Airport and Pier. They also operate four massage parlors where other physically challenged members offer various massage services.
The co-op’s lending services have also delivered significant relief to its members, especially when facing financial difficulties due to unexpected situations. They enjoy loans with zero interest rate for their needs, instead of previously relying on loan sharks that charge as high as 20% interest per month.
The pandemic’s silencing effect
However, nothing could have prepared the cooperative from the COVID-19 pandemic, which hit the tourism sector hard and drastically reduced passenger traffic. The once jam-packed airport and seaport terminals turned into deserted hubs without any signs of activity.
For the members of the Bohol PWD Workers MPC, this meant putting their entertaining melodies into pause and soothing massage services on hold.
And as silence filled the airports and seaports that were once alive with their music, the co-op members struggled to make ends meet and provide for their families. With their performances halted, members were left with no other source of daily income, which also cut off the co-op’s source of funding for their relending activities.
“Parang huminto lahat dahil sa pandemya. Lahat kami ay nawalan ng pagkakakitaan, simula sa pagkanta sa mga terminals hanggang sa pagmamasahe. Pero tuloy pa rin ang buhay, naghanap kami ng iba pang pwedeng pagkakitaan at lumapit kami sa iba’t ibang organisasyon,” Jun Baculio recounts.
LANDBANK helps show the light
The Bohol PWD Workers MPC turned to the Land Bank of the Philippines (LANDBANK) to help them sustain their livelihood and endure the pandemic.
As the co-op’s reliable partner over the years, LANDBANK maintains a strong relationship with the co-op, with a total loan exposure amounting to P1.1 million.
LANDBANK first extended a helping hand to the co-op in 2017 through a loan worth P830,000.00, for the purchase of a service vehicle and to augment the working capital of their relending business.
With their new service vehicle, the members are conveniently shuttled to the airports and seaports, including other areas and communities where they are tapped to perform.
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The Bohol PWD Workers (MPC) availed of a loan from LANDBANK to
purchase a service vehicle to conveniently shuttle their membersfrom
their respective houses to their workplaces.
Since the pandemic significantly decreased their income, LANDBANK approved the restructuring of the co-op’s existing loan in 2022 under the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) Lending Program with a lower interest rate.
The co-op’s existing rediscounting line was also converted into a term loan amounting to P300,000 under the Program, to help cover the daily necessities of the members’ families during the pandemic.
“We are very much thankful to LANDBANK. They patiently catered to our financing needs to make the co-op successful, fruitful and productive. Hindi kami nahihirapang lumapit sa kanila,” said Jun.
As the country reopened several tourist destinations, the cooperative also made a successful comeback to the airports and seaports, in stride with the economy’s continuing resurgence from the pandemic.
Last January, the Bohol PWD Workers MPC was able to fully pay its restructured term loan with LANDBANK and partially paid in advance its converted rediscounting line.
Today, the co-op looks to expand its operations by tapping the Bank’s assistance anew for lot acquisition and the construction of its new head office.
LANDBANK has continued to support the financial requirements of the Bohol PWD Workers MPC along with the whole cooperative sector. As of 31 January 2023, LANDBANK’s outstanding loans to the sector have reached P66.6 billion serving over 1,360 co-ops nationwide.
On the back of record earnings: LANDBANK tops remittance to National Gov’t with P32.119-B in dividends
The Land Bank of the Philippines (LANDBANK) has remitted P32.119 billion in cash dividends to the National Government—the highest in the state-run Bank’s history—to support the country’s infrastructure projects and socio-economic programs. The record-setting contribution, the highest amount remitted among all Government Owned and Controlled Corporations (GOCCs), highlights LANDBANK’s robust financial position after posting an all-time high net income of P40.3 billion in 2023 and year-end capital of P266.8 billion. LANDBANK officially remitted the P32.119 billion cash dividends to the National Treasury on 30 April 2024, which was recognized during the GOCCs’ Day ceremonial dividends turnover event on 06 May 2024 at the Philippine International Convention Center (PICC) in Pasay City, led by President Ferdinand R. Marcos Jr. together with Finance Secretary and LANDBANK Chairman Ralph G. Recto, and other officials. “The solid performance of LANDBANK in 2023 yielded a record-breaking dividend contribution, which will significantly support our people’s growing needs and further stimulate the country's economic growth. This unprecedented amount demonstrates the fiscal discipline that we have instilled in LANDBANK. Credit must be given to LANDBANK’s management team led by PCEO Lynette Ortiz and staff for their hard work and commitment to the nation,” said Finance Secretary and LANDBANK Chairman Recto. “LANDBANK’s unprecedented contribution to the government’s coffers underscores our unwavering commitment to nation-building. We look forward to further advancing the country’s growth trajectory by providing ample funding for priority infrastructure projects and socioeconomic programs,” said LANDBANK President and CEO Lynette V. Ortiz. President and CEO Ortiz added that the Bank will remain aggressive in serving the growth requirements of the agriculture sector and other key industries, to complement the National Government’s inclusive and sustainable development agenda. Strong profit growth in Q1 2024 LANDBANK has started the year strong after earning P12 billion in the first three months on the back of increased interest income from loans. The state-run Bank’s net income for the first quarter jumped 11% from P10.8 billion year-on-year, exceeding its P11.3 billion target for the period by 6%. LANDBANK’s total assets expanded by 5% to P3.3 trillion, driven by robust expansion in loans. The Bank’s deposit base likewise improved by 4% to P2.9 trillion due to increases in government and private deposits. The Bank’s gross loan portfolio reached P1.5 trillion, marking a 25% increase due to the growth in treasury and commercial loans, primarily channeled towards agribusiness, energy, affordable mass housing, and infrastructure projects. Earlier, the Bank garnered the highest rating for corporate governance among all GOCCs in 2022, with a scorecard of 102.5 from the Governance Commission of GOCCs (GCG), showcasing LANDBANK’s strong corporate governance culture anchored on integrity, transparency, and accountability. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. The Bank is present in all 82 provinces in the county, committed to providing accessible and affordable financial support to key players and industries as part of its broader thrust of serving the nation.
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Advancing a circular economy: Poultry farm boosts Romblon’s egg supply with LANDBANK support
With support from LANDBANK, brothers Alex and Raymond Abelido were able to establish Tierra del Sur Farms, Inc., in San Agustin, Romblon, which is currently the largest commercial poultry farm in the province supplying around 54,000 fresh farm white eggs daily. SAN AGUSTIN, Romblon – With its local small-scale poultry farms having limited egg production capacity, this Province mainly relies on imported chicken eggs to fully sustain the daily requirements of consumers, restaurants and other local businesses. Bulk of Romblon’s egg supply are shipped from other areas in the country, making its supply vulnerable to transportation disruptions caused by adverse weather conditions and other unexpected delays. These constraints were in full display during the previous imposition of lockdown measures and travel restrictions at the height of the COVID-19 pandemic. Local businessmen and brothers Alex and Raymond Abelido saw this demand-supply gap as an opportunity to establish Tierra del Sur Farms, Inc., a commercial poultry farm to help strengthen local egg production and cut down egg imports. “Growing Romblon’s poultry production is part of our vision to build a more sustainable food system in Romblon. This is our contribution towards ensuring food security in the province,” said Tierra del Sur Farms President and CEO Alex Abelido. Branching out from their existing construction business, the Abelido brothers faced the challenge of venturing into agriculture and building the largest poultry farm in the province to-date. In 2023, the Land Bank of the Philippines (LANDBANK) extended credit assistance amounting to P160 million to re-finance the construction of facilities in their 17-hectare farm in Romblon. The LANDBANK loan helped put up necessary facilities such as four poultry buildings, as well as feeds and tools warehouses, workers' quarters and an organic fertilizer plant. Part of the loan also supported the acquisition of ready-to-lay chickens and covered the purchase of chicken feeds, among other operational expenses. Not long after having 25,000 laying hens at the beginning of their operations, Tierra del Sur Farms, Inc. now has around 60,000 laying hens in their Romblon farm producing about 54,000 eggs daily. These eggs are distributed to the different island municipalities of the province, including Tablas Island. Locals are now able to buy eggs at a much cheaper price, with each piece sold at a farm gate price of P7.00 compared to imports that cost around P10.00 per piece. Having locally produced eggs likewise ensures quality and availability in the province, as compared to imported eggs which could take days to reach the province. Tierra del Sur Farms, Inc. is able to produce over 250,000 eggs daily, distributed in the islands of Romblon and other parts of the country, including Batangas, Rizal, and Manila. With the success of their Romblon poultry farm, Tierra del Sur Farms, Inc. likewise sought the assistance of LANDBANK in expanding their operations to Calatagan, Batangas. They availed a P430-million loan to finance the construction of poultry buildings and support facilities such as an organic fertilizer plant, sewage treatment plant, and warehouses. The Batangas poultry farm houses around 250,000 laying hens in seven fully automated and mechanized poultry buildings. It produces about 200,000 eggs daily, shipped to various trade partners in Batangas, Rizal, and Manila. “We would like to thank LANDBANK for its support as we achieve our goals of empowering local communities and ensuring food security. We look forward to their continued support as we plan to expand the reach of our operations even further to neighboring provinces,” said Raymond Abelido, Tierra del Sur Farms, Inc. Corporate Treasurer and manager. As of end-March 2024, LANDBANK’s outstanding loans to the poultry sector has reached P15.5 billion to finance the production of chicken and duck eggs, breeding of poultry, and sale of poultry meat and products, among other projects. Building a sustainable circular economy As part of Tierra del Sur Farms, Inc.’s advocacy to operate with minimal ecological footprint, the farm prides itself on employing sustainable methods for waste management to reduce environmental impact and protect natural resources. Through a sewage treatment plant also financed by LANDBANK, the farm recycles wastewater as drinking water for their chickens, thereby reducing costs and preventing water pollution. LANDBANK’s assistance likewise enabled the farm to construct an organic fertilizer plant to produce their own fertilizer from chicken manure. These fertilizers are sold to local farmers to help improve soil quality and agricultural production. Tierra del Sur Farms, Inc. was also recently recognized for the good quality of their fertilizer and tapped by the Philippine Coconut Authority (PCA) through a joint venture to supply organic fertilizer to coconut farmers nationwide. Their new collaboration aims to boost coconut production while promoting proper poultry waste management, as the Abelido brothers work towards making their business more sustainable and self-sustaining. ABOUT LANDBANK LANDBANK currently operates a total of two Branches in the Province of Romblon, complemented by seven ATMs and one cash deposit machine, to facilitate accessible, convenient, and secure banking services. LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. The Bank is present in all 82 provinces in the country, committed to provide accessible and responsive financing to drive the agriculture sector’s productivity and competitiveness, while championing sustainable development in the countryside.
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LANDBANK backs co-op to expand services for uniformed personnel
LANDBANK President and CEO Lynette V. Ortiz (3rd from right) and ACDI Multipurpose Cooperative Chairman MGen Gilbert S. Llanto AFP (Ret) (4th from right) lead the signing of a loan agreement on 08 April 2024 at the LANDBANK Plaza in Manila to boost the co-op’s working capital. The Land Bank of the Philippines (LANDBANK) has extended financial support to the ACDI Multipurpose Cooperative (MPC) to boost the co-op’s working capital catering to uniformed personnel. The state-run Bank has granted ACDI MPC rediscounting lines to provide affordable credit for its over 269,000 members, including active and retired members of the Armed Forces of the Philippines (AFP), and other uniformed personnel. The ACDI MPC is the largest cooperative in the country in terms of assets. The LANDBANK support will help the co-op offer more loan packages at friendly rates to help members buy their dream home and vehicle, establish a business, or send their kids to school. “Since 1996, we are proud to have supported ACDI MPC’s growth and expansion into one of the largest cooperatives in the country. We will remain committed to strengthening the co-op’s working capital to boost its lending activities for our uniformed personnel, and support expansion plans in their other business lines,” said LANDBANK President and CEO Lynette V. Ortiz. LANDBANK President and CEO Ortiz and ACDI MPC Chairman MGen Gilbert S. Llanto AFP (Ret) led the signing of the loan agreement on 08 April 2024 at the LANDBANK Plaza in Malate, Manila. They were joined by ACDI MPC President BGen Alfredo G. Ramirez AFP (Ret), Executive Vice Presidents Esperanza G. Cauyan and Juliet B. Saavedra, LANDBANK Executive Vice President Ma. Celeste A. Burgos and Senior Vice President Lucila E. Tesorero. “Today, the confidence that LANDBANK has put on us will reflect on the way our people will also operate. Being the leading financial institution of the government, I think it’s a good affirmation of how far ACDI has gone also,” said ACDI MPC Chairman Llanto. LANDBANK is also supporting the ACDI MPC’s digitalization journey for enhanced operations and services through the Bank’s suite of digital banking solutions. The co-op is currently utilizing the LANDBANK weAccess for select banking transactions and the e-Tax Payment System (eTPS) for paying taxes online. Last year, ACDI MPC received the prestigious LANDBANK Distinguished Initiators and Movers of National Development (DIAMOND) Award for Outstanding Non-Agri-based Cooperative during the Bank’s 60th anniversary client commemoration event on 08 August 2023. As of end-February 2024, LANDBANK’s outstanding loans to the cooperative sector have reached P73.8 billion for the benefit of nearly 1,400 agri and non-agri-based co-ops nationwide. ABOUT LANDBANK LANDBANK is the largest development financial institution in the country promoting financial inclusion, digital transformation and sustainable development to benefit Filipinos. It is committed to providing accessible and affordable financial support to key players and industries as part of its broader thrust of serving the nation.
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