As part of measures to help communities bounce back from the impact of the COVID-19 pandemic, the national government, through state-run Land Bank of the Philippines (LANDBANK), is providing an interest rate subsidy of 2% per annum on new and existing loans of Local Government Units (LGUs) for their response and recovery intervention projects for their constituents. The interest subsidy forms part of the provisions of Republic Act No. 11494 otherwise known as the “Bayanihan to Recover as One (BARO) Act” or “Bayanihan 2,” in which LANDBANK has been allotted a P1-billion interest subsidy fund by the national government for loans secured by LGUs. The relief shall be applied to loan interest payments of municipal, city and provincial LGUs until December 31, 2022, or until the interest subsidy fund is fully utilized. To extend the interest rate subsidy to as many LGUs as possible, a maximum interest subsidy equivalent to P10 million has been set for cities and provinces, and P5 million for municipalities. “We strongly encourage our LGUs to make full use of credit facilities subsidized by the national government to bankroll development projects in their respective localities. This will contribute greatly to reviving local economies and helping the country recover from the impact of the COVID-19 pandemic,” said LANDBANK President and CEO Cecilia C. Borromeo. Qualified LGUs may avail of the loan interest subsidy for eligible projects pursuant to the objectives of the BARO Act. These include, but are not limited to, permanent working capital such as for the purchase of agricultural produce, acquisition of equipment, construction of facilities for linking of products to the market such as market infrastructure development and improvement, mobile palengke, collection and buying stations, and other related facilities. LGUs with loans for programs and projects that provide basic and support services, social welfare and healthcare, and other infrastructure activities that aim to bring back confidence of the people and spur the local economy and businesses are also eligible to avail of the interest subsidy. The loan for these projects shall bear a fixed interest rate of 4% per annum until the end of 2022, wherein the remaining 2% interest rate shall be charged to the LGU. Interest rate shall be subject to annual repricing thereafter based on benchmark rate plus applicable credit spread based on credit rating of the borrower, but shall not be lower than 4% per annum. Borrowers may pay their loan up to 15 years inclusive of up to three (3) years grace period on principal payable based on cash flow. The interest rate subsidy will be made available to LGUs with approved accounts under LANDBANK’s RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program which was launched last July, to support LGUs in the implementation of their local economic recovery plans. As of November 30, 2020, LANDBANK has approved loans to 156 LGUs amounting to P52.27 billion under the RISE UP LGUs Lending Program. Of this amount, P383.5 million has been released to three (3) LGUs. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
READ MOREJasaan Mayor Redentor S. Jardin (center) and Acting Municipal Treasurer Florilinda H. Caparas (right), sign two (2) loan agreements with LANDBANK Capistrano Branch Head Assistant Vice President Josephine B. Mercadal (left) and LANDBANK Cagayan de Oro Lending Center Account Officer Ramil C. Lumayag (standing, left) to finance the upgrading of water system facilities and the construction of a sanitary landfill and slaughterhouse in the municipality. JASAAN, Misamis Oriental – The Land Bank of the Philippines (LANDBANK) and the Municipal Government of Jasaan, Misamis Oriental recently entered into two (2) loan agreements totaling P300 million for the expansion of the municipality’s water system and the construction of a sanitary landfill and slaughterhouse facilities. Mayor Redentor S. Jardin and LANDBANK Capistrano Branch Head Assistant Vice President Josephine B. Mercadal led the loan signing together with Acting Municipal Treasurer Florilinda H. Caparas and LANDBANK Cagayan de Oro Lending Center Account Officer Ramil C. Lumayag on October 28, 2020. LANDBANK granted the local government unit (LGU) a P150 million term loan to upgrade Jasaan’s water system facilities and address the municipality’s dwindling water supply. The expansion project aims to benefit around 7,723 households from six (6) barangays with efficient and uninterrupted potable water supply. The loan will finance the construction of a Level-3 water system to connect secondary pipelines to Level-3 household connections. This will complete the series of upgrades implemented by the Jasaan LGU under its Potable Water Supply System Project. LANDBANK also granted the LGU another P150 million term loan for the construction of a Category-1 Sanitary Landfill which will ensure the proper disposal of residual and hazardous wastes from the community. The project will involve the excavation of two (2) hectares of land, including the construction of drainage, gas ventilation, leachate, septic, hazardous waste and electrical systems, an administration building and a perimeter fence. The LGU is also looking to expand the landfill by 10 more hectares. In addition, a portion of the loan will be used to purchase several equipment for daily landfill operations. The loan will also finance the construction of a class “AA” slaughterhouse that will upgrade Jasaan’s existing 100-square meter facility from accommodating up to 20 heads to 100 heads of hogs and cattle per day. Soon, farmers and raisers in the municipality will no longer travel far to accredited slaughterhouses in Cagayan de Oro City and Manolo Fortich for their needs. “Even in the past, LANDBANK has been very accommodating and has supported our vision for Jasaan. With their assistance, we were able to establish our new municipal hall building and SIDARC water supply projects that continues to serve the citizens of Jasaan. Now, with the approval of our new loans, we are looking forward to bringing uninterrupted water services to the people and provide basic services for our constituents,” said Mayor Jardin. LANDBANK has been a trusted partner of Jasaan LGU since 1993. In 2007, LANDBANK provided the LGU a P22.7-million term loan for the construction of the municipal hall building and a P29.71-million term loan for the establishment of its SIDARC water system. “Working together is not something new to LANDBANK and LGUs. We recognize that LGUs are catalysts for positive change by bringing sustainable development in their respective localities,” said LANDBANK President and CEO Cecilia C. Borromeo. Supporting local development Through its financial services, LANDBANK supports LGUs in delivering local programs and projects geared towards accelerating inclusive and sustainable countryside development. As of October 31, 2020, LANDBANK has extended P51.59 billion in outstanding loans to LGUs nationwide. This includes P17.18 billion for agri-aqua projects and P2.37 billion for utility projects of LGUs. 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).
READ MOREPromo Period: Mondays from October 12, 2020 – December 28, 2020 Qualified Cards: Mastercard Credit, Debit and Prepaid Cards (including all issuing banks) MASTERCARD MONDAYS The Promotion is open to all issuing banks of active Mastercard Principal or Supplementary Credit, Debit and Prepaid Cardholders. Promo Offer: Collect FREE SHIPPING vouchers for use every Monday plus a chance to win Php 20,000 Lazada wallet credits weekly when you shop on Lazada with your Mastercard! The Promo is valid on regular and sale items at Lazada. Purchase must be made on Mondays during the period of October 12, 2020 – December 28, 2020 from 12:00 am to 11:59 pm Philippine time. Free shipping voucher worth Php100 can be applied to a minimum transaction amount of Php 3,000, charged to customer’s Mastercard Credit, Debit or Prepaid Card Promo offer can be availed through a collectible voucher for claiming on the Mastercard Mondays landing page at lzd.co/MCMONDAYS2020 during the valid promo period, and is to be applied on customer’s Lazada purchases. The customer may claim and use only one (1) shipping fee voucher per valid promo day. Use of free shipping voucher is open to new and existing Lazada customers. Voucher is valid for one-time use for each promo day at the Lazada mobile app only. Specific dates are as follows: October 2020 October 12, 19, and 26 November 2020 November 2, 9, 16, 23, 30 December 2020 December 7, 14, 21, 28 Free shipping voucher worth Php 100 will apply when the collectible voucher is applied at the Payment Page and the eligible Mastercard is selected as the payment option. Customer must check if voucher is applied before proceeding to final check-out. Each purchase made during the valid promo period, provided that the free shipping voucher has been collected and applied on the order, and the successful purchase is made using their Mastercard, makes the customer eligible to win PHP 20,000 Lazada credits. Use of the free shipping voucher entitles the customer to one (1) raffle entry to the promo. Raffle draw will be done every succeeding Wednesday after the valid Monday promo period. The announcement of winners will be done every succeeding Saturday after the valid Monday promo period. Schedule is as follows: Valid Promo Day Raffle Draw Announcement of Winner October 12, 2020 October 19, 2020 October 26, 2020 November 2, 2020 November 9, 2020 November 16, 2020 November 23, 2020 November 30, 2020 December 7, 2020 December 14, 2020 December 21, 2020 December 28, 2020 October 14, 2020 October 21, 2020 October 28, 2020 November 4, 2020 November 11, 2020 November 18, 2020 November 25, 2020 December 2, 2020 December 9, 2020 December 16, 2020 December 23, 2020 December 30, 2020 October 17, 2020 October 24, 2020 October 31, 2020 November 7, 2020 November 14, 2020 November 21, 2020 November 28, 2020 December 5, 2020 December 12, 2020 December 19, 2020 December 26, 2020 January 2, 2021 Number of Winners: Twelve (12) winners will be drawn at random; one (1) winner to be selected each week to win Php 20,000 Lazada wallet credits. Raffle draw must be done in the presence of a DTI Representative. Winners will be announced via Lazada platforms and will be contacted by a Lazada representative. Crediting of Lazada wallet credits will be done within thirty (30) days from date of winner announcement Purchase must be made using an eligible Mastercard on valid promo period only. Free shipping vouchers can be used with other collectible vouchers and voucher codes, except for platform shipping fee vouchers. Transaction must be made within the Promo Period to avail of the Promo. The Promo is valid at Lazada Philippines Smartphone mobile app only. HOW TO AVAIL Via Lazada Mobile App Download the Lazada app for free via App Store for Apple users or Google Play store for Android users. Collect the Mastercard voucher on the promo landing page at lzd.co/MCMONDAYS2020 for use on your transaction. Select the item/s you wish to purchase then click “Add to Cart”. Prepare your card details for the transaction Click the Shopping Cart icon on the right, topmost portion of the screen to view all the items on your Shopping Cart. Select the item/s you wish to purchase and once you have reviewed the items on your Shopping Cart, click “Check Out” Select the Mastercard shipping fee voucher to apply the discount. Enter your shipping and billing information and select the credit card as payment method. Enter your Mastercard Card details and make sure to check if the discount was applied to total billing before proceeding to place the order. Click “Place Order” to complete the transaction. TERMS AND CONDITIONS: Free shipping voucher worth Php 100 can be used once each promo day throughout the valid promo period. Free shipping voucher worth Php 100 is applicable to all Mastercard Credit, Debit and Prepaid Cardholders. Free shipping worth Php100 is activated automatically at checkout only when the collectible voucher has been successfully applied on the order. Voucher is not exchangeable for cash, credit or other goods and services. Voucher amount cannot be applied retroactively. Voucher is considered fully consumed regardless if total shipping fee is less than voucher amount. Voucher is not applicable to items marked “Voucher code not applicable on this item”. All cancelled orders by customers will not be valid for re-instatement of voucher codes. To be eligible for the raffle draw, you have to be age 18 or over and be a legal Filipino citizen in the Philippines. To be eligible to receive the Prize, you must satisfy the following requirements: Purchased eligible item/s on Lazada Must have a valid ID that will validate your nationality Lazada reserves the right to award the Prize to someone else if you are unable to satisfy any of the conditions set out in T&Cs. The use of the voucher is subject to the Lazada Voucher Terms and Conditions. Applicable only to eligible credit card BINs and eligible items. Free shipping vouchers can be used with other collectible vouchers and voucher codes, except for platform shipping fee vouchers. CUSTOMER SUPPORT For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact. Terms and conditions apply. Per DTI Fair Trade Permit No. FTEB-106417 Series of 2020
READ MOREThe SM Store - Mastercard Promotion – Shop & Win P5,000 Cash Back With Your Mastercard October 15 to December 31, 2020 Eligibility The Promotion is open to all principal and supplementary cardholders of Mastercard credit, debit, and prepaid cards issued in the Philippines. To join the Promotion, cardholder must use a valid Mastercard card for a minimum Php5,000 single receipt purchase at any participating branch of The Store. Straight and installment transactions using a valid Mastercard card in-store and through Call-To-Deliver-Service are eligible for the promotion. Cardholders whose accounts are suspended or terminated are not eligible to join the promotion. The Promotion Mechanics and Conditions A minimum P5,000 single receipt purchase (straight or installment transaction) at any branch of The SM Store nationwide gives the cardholder a chance to instantly win back P5,000 worth of SM Gift Cards. There will be 3,000 winners of P5,000 SM Gift Cards nationwide. Promo Period is from October 15 to December 31, 2020, while claiming of prizes will be from October 15 to March 1, 2021. Upon completing the minimum single-receipt transaction of P5,000 using Mastercard, SM transaction receipt will display and generate the following coupon indicating whether or not the customer wins an instant prize. Winning and non-winning message For winning transaction Congratulations! You’ve won back P5,000 worth of SM Gift Card in Mastercard Shop & Win P5,000 Cashback Promo at The SM Store. Please proceed to the Customer Service Counter for details on how to claim your prize. Terms & conditions apply. See posters for details. Promo period: October 15 to December 31, 2020. Per DTI Fair Trade Permit No. FTEB-105551, Series of 2020. For non-winning transaction Enjoy shopping at The SM Store with Mastercard Shop & Win P5,000 Cashback Promo for a chance to win back P5,000 worth of SM Gift Card. See posters for details. Promo period October 15 to December 31, 2020 Per DTI Fair Trade Permit No. FTEB-105551, Series of 2020. Prize is non-convertible to cash. How to claim the prize: For Instore Transactions - winner (Cardholder) must present the following documents at the Customer Service Counter of The SM Store where the transaction was made. Branch Marketing Manager/Customer Service Manager must verify the winning transaction prior to awarding of prize to the cardholder: Winning Transaction Receipt Winning charge slip Winning Stub Winning Credit Card (Mastercard) Valid ID For Call To Deliver Transactions –The SM Store Branch rider/designated driver will release/deliver the prize to the winner. Winner must surrender and sign the original winning stub. 10. The Transaction receipt and winning charge slip should be marked/stamped “CLAIMED” upon release of prize. 11. Cardholder can only claim his/her prize at the same branch of The SM Store where transaction was made. 12. The SM Store and Mastercard will not replace lost or damage prizes caused by the winner (cardholder). 13. The SM Store and Mastercard Philippines reserves the right to disclose and publish names, photos and other information of the winners in any mode or manner as they deem appropriate. 14. Employees of The SM Store, Mastercard, and its accredited advertising agencies and suppliers, and their family relatives up to 2nd degree of consanguinity or affinity are disqualified from participating in the promotion. Per DTI Fair Trade Permit No. FTEB-105551 , Series of 2020
READ MOREOffer period: 1 September 2020 to 31 December 2020 Offer: Free delivery with minimum spend of P2,000 Promotion code: Mastercard Redemption: Enter promo code “Mastercard” upon check out via www.metromart.ph Dedicated URL (web only): https://www.metromart.com/promos/mastercard For Paid Ads & Boosted Post, may direct to: https://metromart.onelink.me/VP9n/mastercard (web/ios/android) Terms and conditions: 1. Free Delivery is applicable to all Mastercard credit cardholders. 2. Free Delivery promo for a minimum purchase requirement of P2,000.00 3. A Mastercard credit card issued in Philippines must be saved in user’s MetroMart account and used for payment. 4. Free Delivery is applied at checkout page when promo code “MASTERCARD” is entered with valid Mastercard credit card. 5. Free Delivery voucher is not exchangeable for cash, credit or other goods and services. 6. Free Delivery voucher can be used for unlimited times per account unless fully redeemed for the month. 7. Free Delivery voucher cannot be applied retroactively and cannot be used in conjunction with any other Promo and discount that requires a voucher code. 8. Free Delivery is available in Metro Manila, Cebu, Cavite, Laguna and Batangas. 9. Voucher is applicable site wide within MetroMart website & app given the said minimum purchase requirement. 10. The use of voucher code is subject to MetroMart Terms and Conditions.
READ MOREAn 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).
READ MORE(left photo) LANDBANK Davao del Sur Lending Center Concurrent Head Vice President Jose Enedicto G. Faune (left), leads the soft opening of the LANDBANK Sultan Kudarat Lending Center last October 15, 2020, while (right photo) LANDBANK Mindanao Lending Group Head Senior Vice President Charlotte I. Conde (center) leads the soft opening of the LANDBANK Davao del Sur Lending Center last November 16, 2020. State-run Land Bank of the Philippines (LANDBANK) opened two new lending centers in the provinces of Sultan Kudarat and Davao del Sur as part of its thrust to expand its reach and intensify support to the agriculture sector in Mindanao. The new lending centers will provide accessible financial services and affordable credit assistance to clients in the area, notably local government units (LGUs), small and medium enterprises (SMEs), agrarian reform beneficiaries (ARBs), and small farmers and fishers for agriculture production, equipment acquisition, and working capital. “The establishment of LANDBANK Lending Centers in the provinces of Sultan Kudarat and Davao del Sur is a testament to LANDBANK’s continued commitment to support inclusive economic growth in Mindanao. This would also help us to reach more of our priority sectors—the small farmers and fishers who need our services the most,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK Department Manager Harold P. Celestial led the soft opening of the LANDBANK Sultan Kudarat Lending Center last October 15, 2020, joined by LANDBANK Davao Lending Center Head and Davao del Sur Lending Center Concurrent Head Vice President Jose Enedicto G. Faune who was representing LANDBANK Mindanao Lending Group Head Senior Vice President Charlotte I. Conde, and LANDBANK South Cotabato Lending Center Head Lilibeth D. Alvarez. The Province of Sultan Kudarat predominantly has an agricultural economy, and is known for producing crops such as rice, corn, coconuts, coffee, bananas, mangoes, durians, and African palms. It is also home to a few producers of Irish potatoes in the Philippines. Likewise, the largest grains-processing complex in the country can be found in the province’s commercial center in Tacurong City. Temporarily located in Koronadal City, the LANDBANK Sultan Kudarat Lending Center will service almost 17,000 small farmers and fishers in the province engaged in crop production, trading, and fishing. Meanwhile, Davao del Sur is one of the fastest growing provinces in Mindanao driven by the proliferation of agricultural businesses. With vast agricultural lands full of fertile soil and enriched by favorable climate, agriculture is the main source of livelihood in the province with farmers producing mainly coconut, rice, corn, bananas, cacao, coffee, fruits and vegetables. The LANDBANK Davao del Sur Lending Center, located in Digos City, will provide various lending programs catered to more than 5,000 small farmers and fishers covering the provinces of Davao del Sur and Davao Occidental. Senior Vice President Conde led the soft opening of the LANDBANK Davao del Sur Lending Center last November 16, 2020 together with LANDBANK Digos Branch Head Department Manager Rolando V. Araojo, Jr. and Vice President Faune. As of end-November 2020, LANDBANK has a network of 53 Lending Centers in strategic areas nationwide, with the Sultan Kudarat Lending Center and the Davao del Sur Lending Center as the 14th and 15th LANDBANK Lending Centers in Mindanao, respectively. This is complemented by the Bank’s 414 branches and extension offices across all 81 provinces in the country.
READ MOREThe SM Store and Mastercard - Get P1200 Off in Lazada December 7 to December 31, 2020 Promotion Mechanics: The promotion entitles the cardholder to a discount of P1200 for a minimum spend of P3,000. The promotion is valid on purchases using a Mastercard-branded credit, debit and prepaid card issued in the Philippines Promotion Period is from December 7 to December 31, 2020. All transactions must be made within the Promotion Period to avail of the Promotion. To avail of the offer, the cardholder must complete the following steps: Go to www.lazada.com.ph/TheSMSTORE download the Lazada app through the App Store or Google Play Select Credit/Debit Card as mode of payment and enter the details of a qualified Mastercard Card Before checkout, enter the valid Mastercard Credit, Debit or Prepaid Card to avail of the promotion Use Voucher Code MCSM1200 Voucher code is valid for use once every day during valid promo period on the App, deskstop and mobile site. Applicable to new and existing Lazada users. The discount is on top of regular or sale items in Lazada as long as the Mastercard Credit, Debit or Prepaid Card is used upon checkout. The discount cannot be exchanged for cash or other products. The promotion is subject to the Terms and Conditions of The SM Store and Lazada. For questions or clarifications, please contact Lazada Customer Care by clicking the chat button at http://www.lazada.com.ph/contact Per DTI Fair Trade Permit No. FTEB- Series of 2020
READ MORE(clockwise from upper left) Agriculture Secretary William D. Dar and LANDBANK President and CEO Cecilia C. Borromeo lead the virtual MOA signing to implement the expanded SURE Aid and Recovery Project (SURE Aid COVID-19) on December 15, 2020 to provide financial assistance to small farmers and fishers affected by the pandemic. The signing was witnessed by Agricultural Credit Policy Council Executive Director Jocelyn Alma R. Badiola, and LANDBANK Agricultural and Development Lending Center Sector Officer-in-Charge Senior Vice President Ma. Celeste A. Burgos. State-run Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC), signed a Memorandum of Agreement (MOA) on December 15, 2020, to partner anew in extending financial support to small farmers and fishers affected by the impact of the ongoing COVID-19 pandemic. Agriculture Secretary William D. Dar and LANDBANK President and CEO Cecilia C. Borromeo led the virtual MOA signing to implement the expanded SURE Aid and Recovery Project (SURE Aid COVID-19), which will provide an immediate one-time, zero-interest, no collateral loan assistance of P25,000, payable in 10 years, to eligible small farmers and fishers nationwide. Funded under Republic Act No. 11494 otherwise known as the “Bayanihan to Recover as One Act,” the P1-billion SURE Aid COVID-19 aims to finance the emergency and production capital requirements of small farmers and fishers whose livelihood and income are affected by the pandemic. This will help the beneficiaries to continue their agricultural activities and contribute to sustained food production. “We will continue what we have started because it is our moral obligation to provide food for all Filipinos, and we start by helping our frontliners and countryside heroes – the farmers and fisherfolk. We want to make sure that we have enough food during the pandemic, and we would like to believe that we can survive and reboot again Philippine agriculture,” said Secretary Dar. Under the agreement, LANDBANK will administer the SURE Aid COVID-19 loan to as many as 40,000 farmers and fishers, to be released in lump sum through the borrower’s LANDBANK deposit account or cash card. For its part, DA, through its Regional Offices and the Bureau of Fisheries and Aquatic Resources (BFAR) Regional Offices will provide the validated list of eligible beneficiaries for the loan assistance. “We thank the Department of Agriculture under the leadership of Secretary Dar for choosing LANDBANK yet again as partner in the delivery of timely, responsive, and non-interest bearing financing for small farmers and fishers. Rest assured that we will remain your ally in synergizing and intensifying efforts toward the shared vision of a more productive, sustainable, and resilient agriculture sector,” said LANDBANK President Borromeo. The MOA signing was witnessed by ACPC Executive Director Jocelyn Alma R. Badiola and LANDBANK Agricultural and Development Lending Center Sector Officer-in-Charge Senior Vice President Ma. Celeste A. Burgos. They were joined by LANDBANK Lending Program Management Group Head First Vice President Emellie V. Tamayo and other LANDBANK, DA, and ACPC officials. 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).
READ MORELANDBANK Visayas Lending Group Head Senior Vice President Elsie Fe Tagupa (center) and Cebu North Lending Center Head Vice President Eulalio G. Lagpa, Jr. (4th from left) visit the newly constructed single-deck tunnel ventilated poultry house with multi-level colony type caging system owned by Bryan (2nd from left) and Aisha Castillo (not in the photo) of Dumanjug, Cebu. The facility for contract growing of poultry was funded through the assistance of LANDBANK. DUMANJUG, Cebu – Spouses Aisha and Bryan Castillo are now pioneering the use of modernized poultry farming in Cebu with the recent construction of their single-deck tunnel ventilated poultry house, financed through the assistance of Land Bank of the Philippines (LANDBANK). Construction of the poultry house started in 2019, which boasts of a multi-level colony type caging system with a capacity of 840,000 birds per year, significantly boosting the quality and productivity of the couple’s contract growing business. The facility also features advanced components, such as a mechanized rationing of feeds, a climate control system, and a prime colony cage system, among others. “LANDBANK guided us every step of the way when we were applying for loan assistance. Slowly but surely, the project eventually came to fruition,” said Mr. Castillo, who comes from a family of entrepreneurs, and graduated with a degree in Business Administration major in Management. With their enhanced production capacity and high-quality products, the Castillos were contracted to provide goods for San Miguel Foods, Inc. (SMFI) when they were just starting in 2019. Now, they serve as an integrator for SMFI and contract growers for Bounty Fresh Food, Inc. “We are honored to be of service to trailblazers like the Castillo family. We believe that their investment to innovate can be a model for other poultry farms in the country, which in turn can contribute to our nation’s overall food security,” said LANDBANK Cebu North Lending Center Head Vice President Eulalio G. Lagpa, Jr. Rising above the pandemic However, just like other small and medium enterprises, the Castillos struggled because of the COVID-19 pandemic and were forced to brave uncharted territory during the first few months of the Enhanced Community Quarantine. “I have never seen Cebu having this low demand for chicken, which is at its lowest as an effect of businesses closing and the transportation ban,” said Mr. Castillo. Fortunately, LANDBANK granted the spouses a one-time 60-day moratorium for their outstanding loan as part of the provisions under Republic Act No. 11494 or the “Bayanihan to Recover as One Act,” designed to help clients like them cope with the impact of the pandemic. “I am so grateful for the adjustments in loan payment that LANDBANK extended to us. Rest assured that LANDBANK will be the first to know when we decide to expand our business because of the support and encouragement that we’ve been getting from them,” Mr. Castillo added. As of September 30, 2020, LANDBANK has extended P146.41 billion in outstanding loans to small, medium, and large agribusiness enterprises. This includes P35.63 billion for livestock projects with P13.41 billion specifically for the poultry industry. 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).
READ MOREAs of Tue, May 13, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.4 | 56 |
| JPY | 0.368188 | 0.383152 |
| EUR | 60.582563 | 63.046928 |
| GBP | 71.954083 | 74.881016 |
| HKD | 7.082795 | 7.625072 |
As of Tue, May 13, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.560612 |
| Money Market Fund | 1.313231 |
| Money Market Plus Fund | 1.22568 |
| PERA Money Market Fund | 1.025194 |
| Medium-Term Bond Fund | 2.478377 |
| Bond Fund | 2.04027 |
| PERA Bond Fund | 1.208199 |
| Balanced Fund | 2.684491 |
| Growth Fund | 2.64122 |
| Alpha Equity Fund | 3.10956 |
| Blue Chip Equity Fund | 0.98487 |
| Equity Fund | 0.814516 |
| High Dividend Equity Fund | 1.030587 |
| US$ Money Market Fund | 1.433912 |
| Global $ Fund | 1.526909 |
