Beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) in Parañaque City were able to avoid long queues, hours of waiting time, and health risks from COVID-19, by receiving their cash grants thru their cash cards.
The City Government of Parañaque, in partnership with the Department of Social Welfare and Development (DSWD) and Land Bank of the Philippines (LANDBANK), successfully disbursed cash grants worth P28 million to 7,118 4Ps beneficiaries in Parañaque City by utilizing their existing LANDBANK cash cards on May 6 and 18, 2021.
The partnership for the online distribution of the cash aid was formalized through a Memorandum of Agreement (MOA) signed between Parañaque City Mayor Edwin L. Olivarez, DSWD Secretary Rolando Joselito D. Bautista, and LANDBANK President and CEO Cecilia C. Borromeo on April 23, 2021.
“Since the start of the COVID-19 pandemic, LANDBANK has worked closely with various government partners for the immediate and efficient distribution of cash subsidies. We will continuously leverage on our digital and online platforms to facilitate a safe and secure mode of delivering social amelioration programs,” LANDBANK President and CEO Borromeo said.
Under the agreement, LANDBANK facilitated the crediting of financial assistance to the cash card accounts of qualified 4Ps beneficiaries based on the list provided by the Pantawid Pamilya Information System (PPIS) of the DSWD.
The cash assistance in the amount of P1,000 per affected individual, with a maximum amount of P4,000 per family, is part of the National Government’s support to low-income families residing in the National Capital Region (NCR) and in the provinces of Bulacan, Cavite, Laguna, and Rizal, collectively known as the "NCR Plus," that were previously placed under enhanced community quarantine (ECQ) on March 29 to April 18, 2021.
LANDBANK continues to record a usage surge for its digital and e-banking channels since health and mobility restrictions were implemented last year.
From January to April 2021, LANDBANK’s five major electronic channels—Mobile Banking App, Electronic Modified Disbursement System (eMDS), Link.BizPortal, iAccess, and weAccess—facilitated a total of 38.89 million transactions amounting to P642.68 billion. These represent increases of 12% and 55% year-on-year for volume of transactions and value, respectively.
Meanwhile, LANDBANK continues to waive fees for online fund transfers of retail clients until June 30, 2021. This covers online fund transfers facilitated through LANDBANK’s online banking channels via InstaPay and PESONet.
For more information about LANDBANK’s e-Banking products and services, clients may visit the Bank’s official website (www.landbank.com), or follow the Bank’s official social media channels at @landbankofficial on Facebook and Instagram, @LBP_Official on Twitter, and @LANDBANK on Viber.
LANDBANK retail dollar bond sales top US$205-M
The Land Bank of the Philippines (LANDBANK) contributed US$205.27 million or close to 13% of the US$1.593 billion generated from the maiden Retail Dollar Bond (RDB) offering of the Bureau of the Treasury (BTr). The proceeds will fund infrastructure projects and boost health services to fast-track the country’s ongoing economic resurgence, after suffering from debilitating effects of the COVID-19 pandemic. From 15 September to 1 October 2021, the state-run Bank sold the RDB offer through various investment channels, which allowed Filipino retail investors worldwide to participate in the said offering safely and conveniently. Of LANDBANK’s total RDB sales, US$95 million was raised during the rate-setting auction at the launch event held on September 15. The remaining US$109.94 million and US$329,700 were facilitated via over-the-counter placements at LANDBANK branches and online channels, respectively. About US$203,500 of LANDBANK’s RDB sales online was facilitated through the mobile banking application (MBA) of the Overseas Filipino Bank (OFBank)—the official digital bank of the Philippine government and a subsidiary of LANDBANK. Likewise, US$107,800 was transacted using the LANDBANK MBA, while the remaining US$18,400 was processed through the BTr’s Online Ordering Facility via LANDBANK’s Link.BizPortal. “A significant draw to the RDB offering was the availability of various investment channels that provided greater convenience and accessibility to retail investors worldwide. The wide participation in this offering also demonstrates the increasing appreciation for the government’s affordable and higher-yielding investment instruments that spur economic recovery and development,” said LANDBANK President and CEO Cecilia C. Borromeo. The RDBs are United States (US) dollar-denominated bonds offered at a minimum investment of US$300 and increments of US$100 thereafter, with annual interest rates of 1.375% and 2.25% for the five- and 10-year bonds, respectively. Interest payments will be paid quarterly during the term of the bond. LANDBANK is Joint Lead Issue Manager for the RDB issuance, as part of its continued support to advance greater financial inclusion and raise state resources for timely and responsive recovery and development initiatives.LEARN MORE
LANDBANK’s P50-M loan ‘links’ La Union town to a promising future
ARINGAY, La Union – The Land Bank of the Philippines (LANDBANK) has approved a P50-million term loan of the Municipal Government of Aringay for the construction of a three-span bridge which is expected to boost growth and progress for the town’s underdeveloped areas. The new bridge will be built between Barangay San Juan East and Barangay San Juan West to connect seven isolated barangays of Aringay to the town proper, thereby making the transport of agricultural goods and access to essential services safer, easier, and more efficient. Upon completion of the bridge, farmers from the seven barangays can conveniently transport their harvests directly to Aringay’s public market instead of bringing these to Baguio City in Benguet. They will also no longer need to cross a river using a raft or pass through other perilous routes during heavy rains that often add to costs. The more than 14,800 residents from the seven barangays can also safely reach the town proper to access essential services, such as medical assistance, without the risk that comes with crossing the river. The P50-million term loan of the Municipal Government of Aringay was approved under the LANDBANK RISE UP LGUs (Restoration and Invigoration Package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, designed to support local government units (LGUs) in the implementation of their respective economic recovery plans. “LANDBANK is fully committed to servicing the infrastructure requirements of our LGU partners to fast-track the recovery of local communities. These projects are crucial to spur economic activities towards inclusive and sustainable development,” said LANDBANK President and CEO Cecilia C. Borromeo. As of 31 August 2021, LANDBANK has approved loans for 322 LGUs under the RISE UP LGUs Program totaling P88.42 billion. “Napakalaking tulong ang maibibigay ng tulay para sa pagpapaunlad ng produktong agrikultura at sa ikabubuti ng mga residente ng Aringay. Tatlumpung taong hinanapan ng pondo ang proyektong ito para ito’y maisakatuparan. Nagpapasalamat kami sa programa ng LANDBANK at sa kanilang matiyagang paggabay at pagsubaybay dahil nabigyan kami ng pagkakataong matupad ang adhikaing matagal naming minimithi,” said Aringay Mayor Eric O. Sibuma. LANDBANK is one with LGUs nationwide in implementing various development projects and in serving the nation as it threads the path to recovery and resiliency amid the ongoing pandemic.LEARN MORE
LANDBANK, Pangasinan LGU sign P500-million loan to boost income of rice farmers
Pangasinan Governor Amado I. Espino III (2nd from left) and LANDBANK Pangasinan Lending Center Head, Assistant Vice President Jaime S. Cruz (3rd from left), sign a P500-million loan agreement on 24 September 2021 at the Provincial Capitol in Lingayen, Pangasinan to help boost the income of rice farmers in the province. They are joined by Provincial Administrator Atty. Nimrod S. Camba (leftmost) and LANDBANK Lingayen Branch Head, Assistant Vice President Kathleen D. Fernandez (rightmost). LINGAYEN, Pangasinan – State-run Land Bank of the Philippines (LANDBANK) and the Provincial Government of Pangasinan have signed a P500-million loan to finance agricultural projects aimed at boosting the productivity and income of local rice farmers in the Province of Pangasinan. Under the LANDBANK Palay at Mais ng Lalawigan Lending Program, P400 million of the total loan will be used by the Local Government Unit (LGU) to purchase palay produced by small farmers with less than two (2) hectares of land each. Around 20,000,000 kilos of palay will be purchased by the Provincial LGU at higher prices than the prevailing market in the Province benefitting around 16,000 farmers in Pangasinan. The Provincial Government shall process the milling of the purchased palay and sell them to 14 provincial government-owned hospitals, the Pangasinan Provincial Jail, as well as other LGUs as part of relief operations and other related social services. The rice may also be distributed to Bigasan ng Bayan centers owned by Overseas Filipino Workers (OFWs) to be sold to local communities. The remaining P100 million will be used for the construction of a second Rice Processing Complex (RPC) in Pangasinan, together with the purchase of a rice mill, dryer, and industrial vehicles to transport agriculture products. “LANDBANK continues to answer the call of small farmers for an assured market and reasonable prices for their produce. We stand together with our LGU partners towards helping farmers increase their productivity and income, especially during this ongoing pandemic,” said LANDBANK President and CEO Cecilia C. Borromeo. Through the Palay at Mais ng Lalawigan Program, LANDBANK has approved loans amounting to P3.78 billion to eight (8) LGU-borrowers intended for palay procurement and acquisition of farm machineries and equipment (post-harvest facilities). Of this amount, P115 million has been availed by two (2) LGUs as working capital loan for palay procurement, benefitting more than 1,800 small farmers as of August 2021. From January to August 2021, LANDBANK has extended a total of P21.27 billion in outstanding loans in support of agri- and aquaculture projects of LGUs nationwide. LANDBANK remains committed to providing intensified support to the agriculture sector to fast-track its growth and recovery from the impact of the pandemic.LEARN MORE