Agriculture Secretary Dr. William D. Dar (3rd from right), LANDBANK President and CEO Cecilia C. Borromeo (3rd from left), and Cagayan Gov. Manuel N. Mamba (2nd from right) present a ceremonial LANDBANK SURE Aid Cash Card to farmer Gerry Macapulay of Alcala, Cagayan (4th from left) during the launch of the SURE Aid Program in Cagayan. With them are 3rd District Board Member Rodrigo de Asis (extreme left), Municipal Agriculturist Eusebio Manuel (4th from right), LANDBANK Senior Vice President Filipina B. Monje (extreme right), and LANDBANK Assistant Vice President Victor A. Agorto (2nd from left). (Photo courtesy of DA-Communications Group).\ PEÑABLANCA, Cagayan – More than 800 farmers received a total of P12 million in loan assistance from the Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK) during the launch of the Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid) at the Capitol Gymnasium in this municipality. Agriculture Secretary Dr. William D. Dar and LANDBANK President and CEO Cecilia C. Borromeo led the distribution of LANDBANK SURE Aid Cash Cards pre-loaded with the one-time P15,000 loan assistance to 803 qualified farmers from the Municipalities of Piat, Tuao, Amulung, Iguig, Solana, Alcala, Enrile, and Peñablanca. The zero-interest, no collateral loan is payable up to eight years. They were joined by Cagayan Governor Manuel N. Mamba, DA Region 2 Regional Executive Director Narciso A. Edillo, LANDBANK Northern and Central Luzon Lending Group Head Senior Vice President Filipina B. Monje, and LANDBANK Cagayan Lending Center Head Assistant Vice President Victor A. Agorto. “The Province of Cagayan holds great potential in agriculture and aquaculture. As the provincial government, led by Gov. Mamba, nurtures this sector, LANDBANK is more than ready to provide the necessary developmental assistance to local industries, especially to small farmers, fishers and entrepreneurs,” President Borromeo said. A total of P30 million has been allocated under the SURE Aid Program for the estimated 2,000 farmers in the Province of Cagayan who are tilling one hectare and below. To date, some 41,000 palay farmers from 41 provinces nationwide have benefitted from the SURE Aid Program, with more than P600 million in loan assistance distributed under the Program. Meanwhile, the DA also distributed various agricultural assistance and projects to the provincial government of Cagayan during the event, which included P321 million in hybrid seeds (P195 million for rice and P126 million for corn), and P187 million in agricultural machineries, irrigation facilities, and infrastructures.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (3rd from right) and Cooperative Development Authority (CDA) Chairman Orlando R. Ravanera (2nd from right) led the signing of the Memorandum of Agreement for the Financial Inclusion Through Cooperatives (FIT-Coop) Program that will support unbanked and underserved micro and small cooperatives all over the country. This was witnessed by LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron (leftmost) and CDA Executive Director Ray R. Elevazo (rightmost). The Land Bank of the Philippines (LANDBANK) and the Cooperative Development Authority (CDA) have joined hands anew for the Financial Inclusion Through Cooperatives (FIT-Coop) Program, an initiative that will provide capacity-building support to micro and small cooperatives in unbanked and underserved areas nationwide. LANDBANK President and CEO Cecilia C. Borromeo and CDA Chairman Orlando R. Ravanera led the signing of the Memorandum of Agreement (MOA), together with CDA Executive Director Ray R. Elevazo and LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron. Through the FIT-Coop Program, a total of 220 cooperatives with more than 31,000 members from 92 unbanked municipalities all over the country will undergo financial literacy trainings that would better prepare them to access formal credit assistance. “The signing of this MOA for the FIT-Coop Program is a momentous and historical event— a great breakthrough in putting those in the margins into the mainstream of the development process. This will also be a great leap forward for CDA to fulfill its mandate to promote the viability and growth of cooperatives as instruments of social justice and economic development,” CDA Chairman Ravanera said. LANDBANK President Borromeo said the FIT-Coop Program is also a clear display of the Bank’s continuous commitment to reach the smallest cooperatives in the most far-flung areas and empower them to become catalysts for inclusive growth in the countryside. “LANDBANK is no stranger to cooperativism. We know that a lot more can be done if we collaborate with them. Communities have transformed into very progressive local economies because of cooperatives. The crucial thing is we strengthen the weak micro and small cooperatives so that they can grow and access formal lending programs,” President Borromeo said. Under the FIT-Coop Program, assesment tools from both CDA and LANDBANK were utilized to develop the Cooperative Assessment Tool—an instrument which will measure a cooperative’s maturity level and readiness for different support services. In addition, an Environmental Mapping or Scanning Tool was likewise devised to identify necessary but missing facilities in the community which hamper the cooperative’s growth and development. The CDA and LANDBANK will then refer the data collected from these tools to relevant government agencies to further help cooperatives thru possible developmental interventions. President Borromeo added that this strategy is very much aligned with the Duterte Administration’s “whole-of-government approach”, wherein relevant government agencies collaborate and synergize efforts to achieve more significant results.
READ MOREHAMTIC, Antique – Melbert Gabriel Fadrigo sailed oceans and seas for seven years before deciding to retire and return to his family’s rice and corn farm in this town. With the help of Land Bank of the Philippines (LANDBANK), Fadrigo availed of the Agricultural Competitiveness Enhancement Fund (ACEF) for the acquisition of his brand-new four-wheeled tractor with rotavator. “Sa una ang tingin mo sa farming, parang mahina ang kita. Pero habang tumatagal na, makikita mo na basta may tamang diskarte at equipment, malaki rin talaga ang kikitain. Bakit ka pa magbabarko kung yung kikitain mo dun, kikitain mo rin dito sa lupa?” Fadrigo explained. The youngest among three siblings, Fadrigo learned of the hardships that come with the manual tilling of land at an early age, accompanying his father plant rice and corn seeds in their 12-hectare agricultural land while he was still in high school. Back then, farming was laborious. Plowing a hectare of their land took two to three days using their trusted carabao. It also cost them more as their kuliglig or improvised tractors required more crude oil to run, more workers to operate, and more time needed to cultivate their land as compared to modern tractors. Before turning to full-time farming, Fadrigo first tried his luck as a cook in a cargo ship in 2010. Even then, he knew that his father needed someone who could continue their family’s legacy in farming. Fadrigo finally decided to take over the management of the family’s farm from his father in 2017. But he knew that he needed to adopt modern technology in order to increase their farm’s productivity. “Kinausap ko yung father ko na kumuha kami ng isang tractor kasi napaghuhulihan talaga kami kapag kuliglig ang gamit. Nung una nagbabayad pa kami sa isang co-op para maka-renta ng tractor. Doon namin nakita na iba talaga kapag may tractor ka dahil mas mabilis at maayos ang pagtatanim sa lupa,” Fadrigo explained. LANDBANK assisted Fadrigo in reaching for his aspiration to mechanize their farming methods. A year after he decided to become a full-time farmer, Fadrigo’s application for the ACEF program was approved by LANDBANK Antique Satellite Office, making him the first-ever ACEF availer in the province. This enabled him to procure the Php900,000-priced tractor. Since Fadrigo acquired the tractor, their productivity and income significantly increased. From spending two to three days for land preparation, they can now complete the job in just two hours for one hectare of land. Using his tractor, he was also able to earn extra income by servicing neighbouring farms in the localities of Hamtic, San Jose, Sibalom, and Tobias Fornier, which he charges for Php3,000 to Php6,000 depending on the land size. And since availing of the ACEF program, he has employed six regular farm workers to man their farm and operate their equipment. “Ang laking tulong talaga ng ACEF dahil dito nabili namin yung tractor, gumaan yung trabaho namin, at higit sa lahat lumaki ang kita namin. Kaya malaki ang pasasalamat ko sa LANDBANK sa tulong na nabigay nila sa amin,” Fadrigo shared. Moving forward, Fadrigo hopes to expand his business to rice trading by acquiring his own solar and mechanical dryers, and warehouse, also with the help of LANDBANK. The ACEF Lending Program is a joint program of the Department of Agriculture and LANDBANK which aims to provide necessary credit to farmers and fishers, their cooperatives and associations, and micro and small enterprises to increase their productivity, and to enhance the competitiveness of agricultural players. Interested borrowers may contact LANDBANK’s Programs Management Department I (PMD I) at tel. nos. 8-522-0000 locals 7450, 2992, 2804 or go to the nearest LANDBANK Lending Center, for more information.
READ MORETerms and Conditions: •Get P100 worth of Grab vouchers when you Cash-in at least P1000 to your GrabPay Wallet with your LANDBANK Mastercard credit card. •Valid for New to GrabPay Users in the Philippines with no activated GrabPay Wallet only and has an existing Grab account. •Limited to one (1) redemption per user only. •Promo runs until July 15, 2020 only. •P100 worth of vouchers are as follows: (1) P50 OFF GrabCar (min. spend P250 | GrabPay), (2) P50 OFF GrabFood (min. basket P500 | GrabPay) •GrabCar is currently live in Metro Manila and Cebu (limited areas) only. •GrabPay payment for GrabFood is available in Metro Manila and Cebu only. •Vouchers will be received within 5 hours upon successful transaction. •Vouchers can be found under ‘My Rewards’ in the Grab app. A voucher can be used by tapping “Use Now.” •Vouchers are valid for (1) year upon awarding. •Maximum of one (1) Grab account per user per device. •Users who have been determined to be fraudulent or abusive in any ongoing or completed GrabPay promotion are automatically disqualified. •GrabPay reserves the right and has authority to disqualify fraudulent transactions or promo abuse. •Questions regarding user’s qualification or eligibility for this promo shall be resolved by GrabPay at its discretion. •Should there be any disputes, GrabPay’s decision shall prevail. •This terms and conditions shall be governed by the laws of the Philippines and any dispute arising out of or in connection with promotion shall be referred to the exclusive jurisdiction of courts of the Philippines. Per DTI Fair Trade Permit No. FTEB-100630 Series of 2020
READ MOREFarmer-members of the Malinao Dam Federation of Irrigators’ Association (MADFIA), Inc. in Bohol now enjoy improved productivity and income with the help of a four-wheeled tractor and two rice combine harvesters which the federation acquired through the Agricultural Competitive Enhancement Fund (ACEF) Lending Program of the Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK). PILAR, Bohol – Two years ago, farmer-members of the Malinao Dam Federation of Irrigators’ Association (MADFIA), Inc. in the towns of Pilar and Dagohoy in the province of Bohol shared the hardships brought about by traditional palay production. From tilling the soil to harvesting the rice crops from the fields, they only depend on their trusted carabaos and obsolete farming methods as they worked under the sun for more than eight hours a day. Despite all their labor and hard work, MADFIA President Kim L. Doroy said that it was extremely challenging to earn a living from growing palay in a traditional way, especially during bad weather. “Sobrang hirap. Nakikita ko na bawat isa sa miyembro namin ay talagang ibinubuhos ang lahat ng kakayahan sa sakahan para mabuhay. Tapos minsan naaabutan ng ulan, naaabutan ng bagyo, kaya yung kita namin ay talagang bumabagsak,” he said, noting that this vicious cycle also triggered food shortage in the province. The difficulties and uncertainties facing their members prompted MADFIA to avail of a P4.9-million term loan from the Land Bank of the Philippines (LANDBANK) in 2018, under the Agricultural Competitive Enhancement Fund (ACEF) Lending Program, for the acquisition of farm machineries and post-harvest facilities. Through LANDBANK, MADFIA was able to acquire two brand-new units of rice combine harvesters that same year, and in 2019, they were able to purchase a brand-new four-wheeled tractor unit to help them quickly prepare rice paddies for the planting season. With the mechanization of rice farming methods, the productivity and income of the 4,963 rice farmers from 17 irrigators’ associations under MADFIA significantly increased. From spending three to four days and employing three farm workers to prepare one hectare of farmland, they can now complete the job for only two hours with the use of a tractor and just one operator. Harvesting a hectare of rice field was also reduced to two hours and one farm worker with the help of the harvester, instead of the conventional two to three days that requires 16 farm workers. In terms of profit, the farmers were able to earn 40% more every cropping season. And since the time they spend in their rice fields was shortened, some of them were able to get additional income from growing other food crops such as vegetables and corn. “Napagaan ‘yung buhay namin, medyo guminhawa. Nakapag-ipon kami ng panustos sa pag-aaral ng aming mga anak at puhunan sa paghahanda sa susunod na season ng pagtatanim. Ngayong may pandemic, may quarantine, ang laking naitulong dahil iilan lang ‘yung pwedeng makalabas. Kasi sa harvester at tractor kaunti lang ang tao na kinakailangan. Kapag wala kaming ganong equipment, siguradong taghirap na ‘yung mga farmers ngayon,” Doroy said. Aside from MADFIA, LANDBANK through the ACEF Lending Program, has also helped other federations of irrigators’ associations in Bohol to acquire farm machineries and post-harvest facilities. In total, the Bank was able to finance 39 units of four-wheeled tractors, 10 units of rice combine harvesters, and 18 units of rice transplanters to these associations. The ACEF Lending Program is a joint program of the Department of Agriculture (DA) and LANDBANK, which aims to provide necessary credit to small farmers and fishers (SFFs), their cooperatives and associations, and micro and small enterprises (MSEs) to increase their productivity, and to enhance the competitiveness of players in the agriculture sector. As of June 30, 2020, LANDBANK has released a total of P2.5 billion in loans to 19,367 eligible borrowers nationwide under the ACEF Lending Program. Of the total borrowers, 19,189 are SFFs, 119 are MSEs, and 59 are farmers’ and fishers’ cooperatives/associations. For more details about the Program’s features, eligibility and application requirements, 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 MOREWater reservoirs in Can-avid, Eastern Samar. LANDBANK and the local government of Can-avid signed a P220-million loan agreement to finance the construction and upgrading of water system facilities in the municipality. CAN-AVID, Eastern Samar – Towards inclusive countryside development, the Land Bank of the Philippines (LANDBANK) and the municipal government of Can-avid in Eastern Samar recently signed a P220-million loan agreement to deliver better water service and minimize health hazards in the municipality. Can-avid Mayor Gil Norman Germino and LANDBANK Samar Lending Center Head Restituta Ilagan led the loan signing held last July 29, 2020, for the construction and upgrading of Can-avid’s water system facilities. Also present were Can-avid Municipal Accountant Celestino Cabanero, LANDBANK Borongan Branch Head Christopher Marco, and LANDBANK Samar Lending Center Account Officer Teofrido Lagria. According to the municipal government, the project will deliver efficient, uninterrupted, and less expensive supply of potable water to more residents in the area, while reducing the incidence of water-borne diseases caused by unsanitary water sources by as much as 80%. Can-avid’s water system will be upgraded from level II to level III to serve an additional six (6) upstream barangays previously dependent on individual deep well systems. The enhanced water system will soon benefit a total of 16 barangays covering 2,360 domestic households, 127 institutional establishments, and 190 commercial entities. The project design also has a provision for future servicing of four additional barangays along the national highway. “LANDBANK has always been a responsive and reliable partner servicing the needs of our municipality. The approval of our new loan will certainly boost the morale of local leaders as it manifests the Bank’s confidence in their leadership and serves as an affirmation of the meaningful programs that we undertake,” said Can-avid Mayor Germino. LANDBANK and the municipal government of Can-Avid have been development partners since 1992, when LANDBANK first became the depository bank of the LGU. The Bank also granted the Can-avid LGU a P14.92-million term loan in 2007 for farm-to-market roads, which opened access to remote barangays and farm areas, easing the transportation of agricultural products to the market. In May 2017, a LANDBANK Easy Access Facility (LEAF) was also opened in Can-avid located at the Municipal Building ground floor. Supporting local development LANDBANK’s financial services support local programs and projects geared towards accelerating local growth, which includes the construction of necessary infrastructure and improved delivery of basic services. In 2019 alone, LANDBANK financed more than 152,000 kilometers of farm-to-market roads, the construction and renovation of 12 hospital buildings, 33 school buildings, and 354 classrooms, and assisted 37,125 new households get connected with potable water nationwide. Aside from its regular loans, LANDBANK also helps LGUs of rice-producing provinces through the PALAY ng Lalawigan (PAlay aLAY sa Magsasaka ng Lalawigan) Program to procure palay produced by their local farmers, as well as farm machineries and post-harvest facilities. In light of the COVID-19 pandemic, LANDBANK has also allocated P10 billion under the HEAL (Help via Emergency Loan Assistance for LGUs) Program as emergency funding for provincial, city, and municipal governments for the procurement of goods and services to support their respective communities. Last July 29, LANDBANK launched another P10 billion loan program for provincial, city and municipal LGUs called the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program to finance the recovery and development of their local economies and communities hit hardest by the health pandemic. 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. 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 MOREThe Land Bank of the Philippines (LANDBANK) continues to support the government program to put in new and safer public utility jeepneys (PUJs) on the street. As of August 31, 2020, LANDBANK has approved a total of P737.21 million in loans to 16 borrowers nationwide for the purchase of 407 modern jeepneys under the SPEED PUV SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Loan Program. Launched in March 2019, the LANDBANK facility offers financing to public transport cooperatives or corporations to help them make the shift to more efficient and safer vehicles. This is in connection with the Public Utility Vehicles Modernization Program (PUVMP), spearheaded by the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB), with the goal of making the country's public transportation system efficient boost passenger safety and prevent pollution by imposing an age limit for transport vehicles that allowed to operate. “The SPEED PUV Program is geared towards supporting our jeepney operators with accessible and affordable financing to purchase modernized jeepneys. Together with the DOTr and LTFRB, LANDBANK is committed to the improvement of the country's transport system and the convenient and safe mobility of the riding public,” said LANDBANK President and CEO Cecilia C. Borromeo. Modern jeepneys currently cost around P2.2 and P2.4 million. Unlike the clunky and noisy jeepneys, these are equipped with safety and convenient features such as curb-side passenger entrance and exit access, air-conditioning, closed-circuit television (CCTV) systems, and Global Positioning System (GPS), among others. LANDBANK’s SPEED PUV Program allows borrowers to loan up to ninety-five percent (95%) of the total acquisition cost of the PUJ, at an affordable interest rate of six percent (6%) per annum and payable up to a maximum of seven (7) years. LANDBANK is also offering a similar program for bus operators. The government bank recently launched a P3-billion program for the purchase of modern public utility buses, in support of the Metro Manila Bus Modernization Program of the DOTr-LTFRB. The loan facility is being offered through the Bank’s I-RESCUE for BUS Transport (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport) Lending Program. 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 MOREState-run Land Bank of the Philippines (LANDBANK) has extended a total of P20.86 billion in outstanding loans to 1,081 cooperatives and farmers’ associations as of end-August, as it expressed its continued commitment to support the role of local co-ops in getting communities and the economy back on its feet amid the ongoing COVID-19 pandemic. During the virtual celebration for Cooperative Month this October at the House of Representatives on Monday (October 5), with the theme, “Koop Kalinga sa Pandemya," LANDBANK President and CEO Cecilia C. Borromeo assured cooperatives of readily available credit facilities with low interest rates to finance recovery projects and initiatives. The virtual event was hosted by the House Committee on Cooperatives Development, which is headed by Coop-NATCCO party-list Rep. Sabiniano Canama. “As your long-time partner in growth, we in LANDBANK reaffirm our unwavering commitment and solidarity to the noble objectives of the cooperative sector. We recognize the important role of co-ops in helping revive the local economy, with your presence in communities, especially in the countryside,” said President Borromeo. As of August 2020, LANDBANK said outstanding loans to the agriculture sector reached P224.66 billion, of which P20.86 billion was extended to farmers’ co-ops. This amount includes P428 million in loans provided to cooperatives under the Agricultural Competitiveness Enhancement Fund (ACEF) and the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF) administered with the Department of Agriculture (DA), as well as the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) in partnership with the Sugar Regulatory Administration (SRA). The LANDBANK-managed ACEF aims to increase productivity of farmers and fishers by providing the necessary credit to farmers and fishers and their cooperatives and associations, and micro and small-scale enterprises, for the acquisition and establishment of production, postharvest, and processing machineries, equipment and facilities, farm inputs and improvement. A maximum of P5 million can be availed by farmer and fishers cooperatives, associations, and micro and small enterprises. The RCEF is mandated under the Rice Tariffication Law or Republic Act 11203 with a total of P10 billion to be allotted annually and will be incorporated under the General Appropriations Act to be used in boosting the agricultural productivity in the country and help the lives of farmers. Of this annual amount, P1 billion (P500 M per year for 2 years now) is allocated for credit which is being administered by LANDBANK. Meanwhile SCP-SIDA is funded by 15 percent (or about P300 million) of the annual P2-billion fund allocated for the development of the country’s sugar industry. President Borromeo said LANDBANK supports the government’s move to promote cooperatives and farmers’ associations—particularly those involved in the farming sector—as a means to achieve economies of scale and efficiency. Alongside extending loans, LANDBANK will also be providing financial literacy trainings to 220 micro and small co-ops from 92 unbanked municipalities under the FIT-Coop Program. Together with the Cooperative Development Authority (CDA), the program is designed to help improve the business operations and strengthen the capacity of cooperatives to access formal credit. Meanwhile, under the Bank’s SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Loan Program—which is implemented in partnership with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB)—LANDBANK continues to accept and process loan applications from transport cooperatives. As of August this year, total loans approved for transport cooperatives reached P356 million for the acquisition of 197 modern units. Last April, LANDBANK also launched the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19) Lending Program for cooperatives that offers additional credit and loan restructuring under more flexible terms and conditions. “Once again, rest assured that LANDBANK stands shoulder to shoulder with you–our partners in cooperativism. Together, let us work our way to a new normal that promotes greater cooperation, resilience and sustained economic growth for one and all,” President Borromeo added. 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 MORELand Craft Transport (LCT) sea vessel “Isla de Pitogo,” which was acquired by the Municipality of President Carlos P. Garcia through a term loan from the Land Bank of the Philippines (LANDBANK), now efficiently connects the island-municipality to mainland Bohol, improving mobility and movement of commodities to and from the locality. PRESIDENT CARLOS P. GARCIA, Bohol – Before becoming an emerging municipality, Boholanos often describe this island town as a gloomy ghost town with houses lit only by makeshift gas lamps, and fishers sailing the dark sea as the only traces of human activity at night. As the only town separated from mainland Bohol, commerce in the municipality was not feasible. Residents relied only on artisanal fishing, farming and mat weaving for daily subsistence. The movement of people and commodities to and from the locality used to be risky, challenging and expensive as the only available means of sea transportation was through small outrigger pump boats. When the proposal of connecting the municipality to the mainland through a bridge proved to be impractical and too costly, the municipal government opted to acquire a Landing Craft Transport sea vessel to serve as a moving bridge. With a P55-million term loan from Land Bank of the Philippines (LANDBANK) in 2018, the municipality acquired Isla de Pitogo which can accommodate up to nine big passenger buses. On February 4, 2019, the vessel began commercial operations, and provided passengers with a safe, comfortable and affordable transportation. It also opened up the municipality to commerce and tourism, as consumer items and other goods started to pour in, including construction materials for the town’s infrastructure projects. “The landing craft sea vessel was a game changer. It became our first step to development. The vessel connected us to the rest of Bohol, and helped open up our municipality to progress and development,” said Municipal Mayor Fernando B. Estavilla. Local fishers and farmers of rice, corn, coconuts, root crops, fruits and vegetables also benefitted with the inter-island vessel in transporting their catch and produce to as far as Tagbilaran City. The operations of sea vessel also provided jobs to at least 35 residents who man the port in Barangay Popoo, and onboard the vessel. Establishments catering to the growing trade and commerce in the area also generated additional employment. One of LANDBANK’s main objectives is to support Local Government Units (LGUs) nationwide. As of September 30, 2020, LANDBANK has extended loans to LGUs amounting to P51.38 billion. A significant portion of this, or P17.25 billion, represents loans used to finance the agri-aqua projects of LGUs, including farm-to-market roads, slaughter house, and irrigation. Just recently, LANDBANK launched the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program to help LGUs recover post COVID-19. With a program fund allocation of P20 billion, the Bank targets to finance the recovery and rehabilitation projects of provincial, city and municipal LGUs toward stronger and more resilient communities. For more information about LANDBANK’s Lending Programs, 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 MOREAs of Fri, May 2, 2025
| Buying | Selling | |
|---|---|---|
| USD | 55.55 | 56.05 |
| JPY | 0.377079 | 0.391677 |
| EUR | 61.830814 | 64.229657 |
| GBP | 72.734752 | 75.556633 |
| HKD | 7.135926 | 7.668369 |
As of Wed, April 30, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.558326 |
| Money Market Fund | 1.311473 |
| Money Market Plus Fund | 1.223865 |
| PERA Money Market Fund | 1.024157 |
| Medium-Term Bond Fund | 2.473735 |
| Bond Fund | 2.028301 |
| PERA Bond Fund | 1.202455 |
| Balanced Fund | 2.625609 |
| Growth Fund | 2.598945 |
| Alpha Equity Fund | 3.025756 |
| Blue Chip Equity Fund | 0.970814 |
| Equity Fund | 0.790417 |
| High Dividend Equity Fund | 1.009225 |
| US$ Money Market Fund | 1.432555 |
| Global $ Fund | 1.531474 |
