LANDBANK President and CEO Cecilia C. Borromeo (2nd from left) and other LANDBANK senior officials join Albay Representative Joey S. Salceda (3rd from left) and National Security Adviser Secretary Clarita R. Carlos (leftmost) at the Disaster and Climate Emergency Policy Forum on 22 September 2022, to discuss strategies and interventions to combat climate change. The Land Bank of the Philippines (LANDBANK) assures local development stakeholders of continued access to climate finance under the Green Climate Fund (GCF), in support of projects for climate change adaptation and mitigation. The state-run Bank expressed its continuous commitment in contributing to address the climate crisis at the Disaster and Climate Emergency Policy Forum on 22 September 2022, organized by the Local Climate Change Adaptation for Development (LCCAD), University of the Philippines Resilience Institute (UPRI), 4K Foundation, Komunidad Global, Albay Embassy and Climate Change Commission (CCC), in partnership with the House of Representatives and the Office of Albay Rep. Joey S. Salceda. “LANDBANK stands ready to extend necessary credit assistance to boost national and local resiliency and adaptive capacity to climate change. We are collaborating with various development partners, such as the GCF, towards building a more sustainable future,” said LANDBANK President and CEO Cecilia C. Borromeo. The GCF is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement, dedicated to support global efforts to respond to the challenge of climate change. The program aims to help developing countries limit or reduce greenhouse gas (GHG) emissions and adapt to climate change, by supporting programs and projects that promote a paradigm shift to low-emission and climate-resilient development. As a Direct Access Entity (DAE) of the GCF, LANDBANK channels grants and loans provided by the GCF to finance local projects that aim to mitigate and adapt to climate change. The Bank leads the project development, management, monitoring and evaluation, in partnership with public and private entities. In April of this year, LANDBANK and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA) under the Department of Science and Technology (DOST) started the implementation of the very first GCF-approved project in the country. The GCF project titled, “The Multi-Hazard Impact-Based Forecasting and Early Warning System,” aims to shift from a traditional hazard-based to an impact-based forecasting and early warning system, to help the public take pre-emptive measures and improve disaster risk reduction in the long run. The project will benefit communities in the disaster-prone areas of Palo, Leyte; New Bataan, Davao de Oro; Tuguegarao City, Cagayan; and Legazpi City, Albay. LANDBANK is proposing for GCF approval eight other projects designed to promote climate change mitigation, adaptation and resiliency in the sectors of agriculture, health, transportation, renewable energy and energy efficiency, water resource management and ecosystem management. LANDBANK’s contribution to the GCF underscores its commitment to sustainable development and environmental protection, alongside facilitating the uninterrupted delivery of financial services to key economic development sectors. In his first address at the UN General Assembly on 21 September 2022 (Tuesday, September 20, New York Time), President Ferdinand R. Marcos, Jr. also urged developed countries to extend climate financing to countries that are most vulnerable to climate change.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (5th from right) pays a courtesy visit to Transport Secretary Jaime J. Bautista (6th from right) to reaffirm the Bank’s continuing commitment to the National Government’s transport modernization agenda. Joining them are DOTr Undersecretaries Cesar B. Chavez (7th from right), Atty. Timothy John R. Batan (8th from right), Kim Robert C. De Leon (9th from right), LANDBANK Executive Vice Presidents Alex A. Lorayes (3rd from right) and Liduvino S. Geron (4th from right), and LANDBANK Senior Vice Presidents Randolph L. Montesa (2nd from right) and Ramon R. Monteloyola (rightmost). The Land Bank of the Philippines (LANDBANK) renewed its commitment to the Department of Transportation (DOTr) to fully support programs that provide a more efficient, convenient, and modern public transportation for Filipino commuters. During a courtesy visit on 02 September 2022, LANDBANK President and CEO Cecilia C. Borromeo met with DOTr Secretary Jaime J. Bautista to discuss ongoing and potential collaboration programs and initiatives to advance the country’s transport sector. The LANDBANK and DOTr are partners for the Automated Fare Collection System (AFCS) Pilot Production Testing (PPT), which allows the convenient use of EMV contactless credit, debit and prepaid bank cards as cashless payment instruments in public transport modes. Only LANDBANK contactless cards will be accepted as fare media for the interim implementation. Once the necessary regulations or policies have been issued, the LANDBANK AFCS solution can also accept and process the EMV contactless cards issued by other local and foreign banks. In preparation for its full and commercial implementation, LANDBANK and the DOTr launched the AFCS in September, covering six (6) units of modern public utility vehicles (MPUVs) of PM Jeepney Drivers Operators and Services, Inc. (PMJDOSI). The remaining 144 MPUV units out of the total 150 PUV units shall soon be deployed in selected pilot sites in NCR, Central Luzon, Calabarzon, and Metro Cebu. The state-run Bank likewise offers the Support Package for Environment-friendly and Efficiently-Driven PUV (SPEED PUV) Program, to help finance the shift of public transport operators to modern, safer and eco-friendlier vehicles. Under the SPEED PUV Program, public transport cooperatives and corporations may avail loans for the purchase of modern public utility jeepneys (PUJs). LANDBANK can finance up to 95% of the PUJ’s total cost at an affordable interest rate of 6% per annum, payable based on cash flow but not to exceed a maximum of seven (7) years. The National Government, through the Land Transportation Franchising and Regulatory Board (LTFRB), also offers P160,000.00 subsidy to borrowers for each PUJ financed under the Program. As of end-August 2022, LANDBANK has approved P5.3 billion in loans to 116 borrowers under the SPEED PUV Program.
READ MORELANDBANK President and CEO Cecilia C. Borromeo pays a courtesy visit to Defense Senior Undersecretary and OIC Jose C. Faustino, Jr. on 10 October 2022 to express support for the National Government’s peace and order efforts. Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo paid a courtesy visit to Department of National Defense (DND) Senior Undersecretary and OIC Jose C. Faustino, Jr. to express the Bank’s continued support for plans and programs towards national security. The two officials discussed potential areas of collaboration to enhance the agency’s operational efficiency, as well as prioritize the banking needs of Filipino soldiers, personnel, veterans and pensioners through digital banking and treasury services, among others. Borromeo personally expressed gratitude to Faustino and DND, for providing the necessary security and transportation to LANDBANK personnel during the distribution of financial assistance in remote and risky areas. The meeting was also attended by LANDBANK Senior Vice Presidents Celeste A. Burgos, Randolph L. Montesa, Marilou L. Villafranca, and Ramon R. Monteloyola, along with other senior Bank officials. LANDBANK currently serves the banking needs of DND, including payroll service and salary loans for employees, and convenient digital payment to suppliers through the LANDBANK Bulk Remittance System (LBRS), among others. In April of this year, LANDBANK strengthened its partnership with the Philippine Veterans Affairs Office (PVAO), an attached agency of the DND, with the signing of the amended Memorandum of Agreement (MOA) for the Direct Remittance Pension Servicing System (DRPSS) to better service Filipino veterans and pensioners. Under the amended MOA, LANDBANK and PVAO have streamlined procedures for pension account opening and formalized the crediting of other PVAO benefits, such as medical and burial assistance, to the LANDBANK ATM accounts of pensioners. LANDBANK also partnered with the Philippine Air Force (PAF) for the PAF Online Payment System (POPS) powered by the LANDBANK Link.BizPortal, to facilitate the efficient online payment of light and water utility dues, bidding document fees, trust receipts for the Air Force General Hospital, and rental fees for the PAF Aerospace Museum and concessionaires. Through the POPS, PAF clients, which include creditors, suppliers, and PAF personnel and their family members, are now able to settle their financial commitments in a faster, secure, and convenient manner. LANDBANK likewise supports the National Government’s Enhanced-Comprehensive Local Integration Program (E-CLIP), which aims to improve the livelihood of former rebels and extremists and their families by financing small businesses and agri-enterprises. Under the LANDBANK Balik-Loob Lending Program (BLLP), former rebels, former extremists, and their cooperatives and associations can avail of loans to finance small businesses, such as sari-sari stores, furniture making, and tailoring, as well as agri-enterprises such as crop and livestock production, among others. Eligible borrowers can avail up to 90% of the total project cost but not exceeding P100,000.00 per borrower, with an interest rate of 5% per year, payable up to one (1) year for short term loans and up to five (5) years for term loans. As part of the ongoing contribution to the government’s peace-building efforts, LANDBANK has released a total of P1.5 million to 16 former rebels under the BLLP, as of end-September 2022.
READ MOREPromo Mechanics Promo Terms and Conditions Grab Discounts Grab Discounts GrabMart: 20% off, minimum spend P1000, maximum discount P300 Promo period from December 5 - 11, 2022 1x redemption per user Shipping Areas: Nationwide Promo Code: MC20OFFGM For every promo redeemed, Mastercard will donate P50 to Action Against Hunger PH Promo is valid to existing Grab users on the Grab app. Promo is valid to all Philippine-issued Mastercard® Credit Cards only. Grab app must be updated to the latest version to avail of the promo. Should there be any disputes, Grab’s decision shall prevail with the concurrence of DTI. These 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. Customer Journey User opens the Grab app and taps on the “Food” / “Car” / “Mart” Tile. User selects preferred food/mart merchant, or books the car ride. Once the user meets the minimum spend required on the preferred Grab service, along with all the other T&Cs mentioned, the Mastercard discount will be available for them to click and apply. Users will enjoy the promo. Customer Support For questions or clarifications, users may open their Grab app and tap Account (bottom bar) and select Help Center.
READ MOREBudget Secretary Amenah F. Pangandaman (2nd from left) and LANDBANK First Vice President Reynaldo C. Capa (rightmost), together with representatives from other partner banks, lead the signing of the Memorandum of Agreement for the Online Release of Notice of Cash Allocation (NCA) on 07 December 2022 at the DBM Head Office in Manila. The Department of Budget and Management (DBM) and the Land Bank of the Philippines (LANDBANK) have joined hands for the online release of Notice of Cash Allocation (NCA) to expedite the crediting of funds to government agencies. Budget Secretary Amenah F. Pangandaman and LANDBANK Banking Services Group First Vice President Reynaldo C. Capa signed the Memorandum of Agreement for the Online Release of NCA in the Action Document Releasing System (ADRS) on 07 December 2022 at the DBM Head Office in Manila to formalize the partnership. They were joined by Deputy Treasurer Eduardo Anthony G. Mariño III, Anti-Red Tape Authority Officer-in-Charge Ernesto V. Perez, and representatives from other partner banks. Under the agreement, the DBM and LANDBANK will be working together to institutionalize the release of NCAs in digital format. This will eliminate the unnecessary steps of printing, signing, routing and releasing of printed documents, thus making the funds available for the programs, activities, and projects of agencies in the most immediate time. “LANDBANK is committed to play our role in ensuring a more streamlined and efficient process in releasing NCAs. We will continue to find avenues for collaboration to promote the immediate delivery of efficient and meaningful public service,” said LANDBANK President and CEO Cecilia C. Borromeo. The digital release of NCAs is in line with the implementation of Republic Act No. 8792 or the Electronic Commerce Act of 2000, and Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. LANDBANK has been doing its share in establishing a digital payment ecosystem, as part of promoting the Ease of Doing Business and efficient government service delivery. From January to October 2022, LANDBANK’s major digital banking platforms have facilitated a total of 123.3 million transactions amounting to P4.8 trillion, for 14% and 156% year-on-year growths in volume and value, respectively.
READ MOREPromo Mechanics Promo is open nationwide to Mastercard debit and credit card users who are registered in Bayad Online and; paid a bill using Bayad Express. Promo will run from December 15, 2022 to March 15, 2023. Promo Entries and Prizes For Newly Registered Bayad Online Users Newly registered Bayad Online users, who have a minimum spend of Php 1000 for their initial bills payment thru Mastercard credit or debit card, will earn the following: waived convenience fee Php 500 worth of Sodexo e-gift certificate, one (1) raffle entry to get a chance to be part of the 35 lucky winners of the gadgets described below. For Existing Bayad Online Users Existing Bayad Online users who have a minimum spend of Php 1000 worth of bills payment thru Mastercard credit or debit card, will earn the following: waived convenience fee Php 100 worth of Sodexo e-gift certificate Note: They can only earn a maximum of two (2) Php 100 worth of Sodexo e-gift certificates for two (2) Php 1000 worth of unique bill payments per month. Both unique bill payments can cover for either two (2) different biller brands; or two (2) same biller brands as long as the transaction is made using different biller account numbers. one (1) raffle entry to get a chance to be part of the 35 lucky winners of the gadgets described below. Note: There’s no ceiling/limit on the number of Php 1000 worth of bill payments to earn more raffle entries. Bayad Express Users Bayad Express users who have a minimum spend of Php 1000 for their initial bills payment thru Mastercard credit or debit card, will earn the following: waived convenience fee Php 100 worth of Sodexo e-gift certificate. Raffle Prizes A total of 35 lucky winners will win the raffle. 3 WINNERS of iPhone 13 Pro Max 128GB 3 WINNERS of Samsung Galaxy Tab S8+ 5G 3 WINNERS of MacBook Air 2 WINNERS of iPad Air 64 GB 4 WINNERS of Nintendo Switch 7 WINNERS of Marshall Speaker (Emberton II) 8 WINNERS of Apple Airpods (2nd Gen) 5 WINNERS of Fujifilm Instax Mini 11 Announcement of Winners and Claiming of Prizes Sodexo e-gift certificates will be in a form of voucher codes which will be sent via email and SMS blast every 10th to 15th from February to April. Customers who earned raffle entry/ies will receive a confirmation message via email and SMS from the 20th to the 24th day of the month. Raffle draws will be conducted in three (3) batches, which will be on every 25th of the month, and will be announced on the same day, from January to March. There will be a total of thirty-five (35) lucky raffle winners. CIS Bayad Center, Inc. will pay the 20% tax for prizes exceeding Php10,000. Note: Raffle entry/ies earned on the specific coverage as stated above will only be valid until the corresponding draw date. Promo participants can only win once per raffle draw schedule. If a name is drawn more than once, the entry will be voided, and another will be drawn in its place. In compliance with the Data Privacy Act of 2012 (R.A. 10173), contact details of the winning Transaction Reference Number (Complete Name, Address, Mobile Number, Email Address, Transaction Reference Number, Amount Paid, Mode of Payment, Biller Account Number, and Transaction Date & Time) will be used for the purpose of the promo and for future Bayad marketing initiatives (promos, advisories, and updates). Sodexo e-gift certificates are not transferable nor convertible into cash. Raffle draws will be held virtually at CBCI’s Head Office (Business Solutions Center, Meralco Complex, Ortigas Ave., Pasig City), with the presence of a DTI representative. The list of participants will be generated as an excel file through Microsoft Form, and entries will be drawn automatically in the web-based software: Randomizer. Monthly raffle draw winners will be announced on Bayad’s Official Facebook Page every 25th day of the month. Winners will also get a notification via email, SMS, and/or phone call from an authorized Bayad representative. Winners should provide email/SMS notification from Bayad as proof of winning and any valid ID (i.e., Passport, Voter’s ID, SSS, TIN ID, Driver’s license, Senior citizen’s ID, etc.) in claiming their prize. In case of claiming via other individual representation, an authorization letter must be presented together with the winner’s valid ID and of the claimant and proof of winning (email/SMS notification from Bayad). If the winner is below 18 years of age, a parent, or a legal guardian with two (2) valid government-issued IDs (Passport, Voter’s ID, SSS, TIN ID, Driver’s license, Senior citizen’s ID, etc.) must accompany them when claiming. If the winner does not have any valid government-issued Identification Card (ID), a birth certificate with other proof of identity (e.g. company ID, proof of billing, community tax certificate/cedula, etc.) should be submitted together with a duly notarized Affidavit of Two Disinterested Persons. The said affidavit shall be notarized by the winner. Winners will be given sixty (60) days upon receipt of notification to claim the prize; otherwise, it will be forfeited with the approval of DTI. Other expenses (travel, food, internet, mobile load, shipment, etc.) that will be incurred during the claiming of prizes shall be c/o the winners. CIS Bayad Center, Inc. reserves the right to refuse the redemption of the raffle prize if found fraudulent or if complete requirements are not provided. Any disputes will be subject to the decision of CIS Bayad Center, Inc. in concurrence with DTI. All employees of CIS Bayad Center, Inc., along with their affiliates, and any of their contractors, subcontractors, service providers, their respective employees’ spouses, and relatives up to the second degree of consanguinity (including relatives by legal adoption) and all other persons connected with any of these individuals and entities are excluded from joining the promo. CIS Bayad Center, Inc. reserves the right to vary these Terms and Conditions with prior approval of DTI. For any questions or inquiries regarding the promo, please contact Bayad Customer Care at (02) 8672-5777 or send an email at support@bayad.com. Per DTI Fair Trade Permit No. FTEB - 157689, Series of 2022.
READ MORELANDBANK Visayas Lending Group Head, Senior Vice President Elsie Fe NB. Tagupa (3rd from left) and Western Visayas Transport Cooperative (WVTC) Chairman Raymundo G. Parcon (4th from left) lead the loan signing for the purchase of 95 modern jeepneys on 19 January 2023 at the Richmonde Hotel in Iloilo City. ILOILO CITY – Some 95 additional new modern jeepneys will start plying the city’s streets in February 2023 after the Land Bank of the Philippines (LANDBANK) and Western Visayas Transport Cooperative (WVTC) signed a loan contract for the acquisition of brand new and environment-friendly public utility jeepneys (PUJs). LANDBANK Visayas Lending Group Head, Senior Vice President Elsie Fe NB. Tagupa and WVTC Chairman Raymundo G. Parcon led the loan signing on 19 January 2023 at the Richmonde Hotel in Iloilo City. They were joined by WVTC General Manager Halley T. Alcarde and other co-op members, alongside LANDBANK Iloilo Lending Center Head, Assistant Vice President Giovani T. Baoy and other Bank officers. The WVTC’s modern jeepneys will provide a convenient, safe, and comfortable commuting experience for Ilonggos in 13 routes in Iloilo City. The units will be equipped with air-conditioning, closed-circuit television (CCTV) systems, Wi-Fi connectivity, Global Positioning System (GPS), and a cashless payment system, among others. More than the safety and convenient features, modern jeepneys have minimal impact on the environment as these will be compliant with the European emission standards for globally-accepted vehicle exhaust emission limits. “LANDBANK remains committed to supporting the National Government’s agenda towards building a modernized transport system. We stand ready to assist more transport cooperatives and corporations nationwide to make the shift to safer and more efficient vehicles,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. LANDBANK’s financing for the purchase of modern jeepneys will also provide a sustainable source of income to over 700 operator and driver-members of WVTC, who were previously at risk of losing employment with the planned phaseout of old jeepneys. “Nagpapasalamat kami sa LANDBANK sa tiwala at tulong nito sa aming kooperatiba. Pumupunta sila sa aming opisina at talagang ginagabayan kami para matapos ang mga loan requirements. Sana magpatuloy pa ang tulong sa amin ng LANDBANK upang patuloy naming maserbisyuhan ang mga commuters sa Iloilo City,” said WVTC Chairman Parcon. The WVTC was formed in 2017 to comply with the Department of Transportation’s (DOTr) order to convert various associations of operators and drivers into a cooperative to operate modern PUJs. In April 2022, the cooperative was granted a franchise by the Land Transportation Franchising and Regulatory Board (LTFRB) to operate more than 550 units plying 13 routes in Iloilo City. The co-op plans to seek LANDBANK’s assistance again to fund its remaining approved units. The modern jeepneys of WVTC are financed under the LANDBANK SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Program, which directly supports the Public Utility Vehicle Modernization Program (PUVMP) spearheaded by the DOTr and LTFRB. As of 31 December 2022, LANDBANK has approved P6.3 billion in loans to 138 transport cooperatives and corporations nationwide under the Program for the acquisition of over 2,860 modern jeepneys. Of this number, the Bank has extended P751.2 million to 10 borrowers from Iloilo to finance a total of 334 units.
READ MORELANDBANK President and CEO Cecilia Cayosa Borromeo (3rd from left) and LSI Chairman and LANDBANK Executive Vice President Liduvino S. Geron (4th from left) lead the ribbon-cutting ceremony for the new office of the Land Bank Securities, Inc. (LSI) at the Philippine Stock Exchange Tower in Bonifacio Global City, Taguig City on 26 January 2023. Joining them are LANDBANK Executive Vice Presidents Alex A. Lorayes (leftmost) and Carel D. Halog (5th from left), First Vice President Atty. Roderick P. Sacro (rightmost), and LSI Officer-in-Charge Atty. Florence R. Claveria (2nd from left). The Land Bank Securities, Incorporated (LSI) held a blessing and ribbon-cutting ceremony for its new office at the Philippine Stock Exchange Tower in Bonifacio Global City, Taguig City on 26 January 2023, as it positions to become a major player in the Philippine capital markets. Formerly UCPB Securities, Incorporated, LSI is now the wholly-owned official stock brokerage subsidiary of the Land Bank of the Philippines (LANDBANK) following the merger last year of the former United Coconut Planters Bank (UCPB) with LANDBANK. LANDBANK President and CEO Cecilia Cayosa Borromeo alongside LSI Chairman and LANDBANK Executive Vice President Liduvino S. Geron led the office blessing. They were joined by LANDBANK Executive Vice Presidents Alex A. Lorayes and Carel D. Halog, First Vice President Atty. Roderick P. Sacro, and LSI Officer-in-Charge Atty. Florence R. Claveria, among other LANDBANK and LSI officers. “We have high hopes for LSI and its potential to capture a bigger share of the market. As its mother bank, LANDBANK will support the expansion of LSI’s operations as it grows to be a serious player in the capital markets,” said President Borromeo. LSI connects investors to the Philippine stock market and provides an array of services to invest in listed stocks of companies at the Philippine Stock Exchange. The stock brokerage company offers services such as traditional or broker-assisted trading, online trading, and lodgement and upliftment of securities. LSI uses the MyStocks online stock trading portal, which allows investors to conveniently buy, sell, and trade stocks online. The company also facilitates Stock Market 101 seminars monthly for interested participants who want to know more about how to grow their investments in the stock market.
READ MOREIn support of the government’s Public Utility Vehicle (PUV) modernization program led by the Department of Transportation (DOTr) and Land Transportation Franchising and Regulatory Board (LTFRB), the Land Bank of the Philippines (LANDBANK) assured transport groups of accessible and affordable financing to help them make the shift to safer and more efficient vehicles. “LANDBANK continues to extend much-needed financial support to assist drivers and operators upgrade their fleet, in line with the National Government’s transport modernization agenda. We remain committed to the improvement of the country’s public transport system for the benefit of both transport operators and the riding public,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Through the SPEED PUV (Special Package for Environment-Friendly and Efficiently-Driven Public Utility Vehicles) Program, LANDBANK has approved P6.9 billion in loans to 144 transport cooperatives and corporations nationwide for the purchase of over 3,120 modern jeepneys as of 31 January 2023. LANDBANK has also raised the available program fund to P10 billion to accommodate more transport cooperatives and corporations. This is the third budget allocation hike made by the Bank from the P1.5 billion initial fund for the Program in 2017. Under the SPEED PUV Program, eligible borrowers may loan up to 95% of the total acquisition cost of the modern public utility jeepney (PUJ), at an affordable interest rate of 6% per annum, or a minimal 0.5% per month, and payable up to a maximum of seven years. This comes with a subsidy of P160,000 per vehicle from the National Government for units classified under Class 1, 2, 3 and 4 category models. Unlike traditional jeepneys, modern PUJs are equipped with safety and convenience features, such as air-conditioning, closed-circuit television (CCTV) systems, Wi-Fi connectivity, and Global Positioning System (GPS). Modern jeepneys likewise have minimal impact on the environment as they are compliant with the European emission standards for globally-accepted vehicle exhaust emission limits. Interested borrowers of the LANDBANK SPEED PUV Program 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 MORE(left photo) The LANDBANK-financed Baculud Overflow Bridge in Ilagan City, Isabela, allows for easier and safer transportation for residents and vehicles from the City’s northeastern barangays to its Centro Poblacion Barangay Cluster. (right photo) From having a small infirmary solely catering to the medical needs of Ilagueños, the Ilagan LGU also tapped LANDBANK to fund the construction of the City of Ilagan Medical Center (CIMC) building to widen healthcare access in the City. ILAGAN, Isabela – From being one of the poorest municipalities in Isabela over a decade ago, this first-class City now boasts of a vibrant and fast-growing economy driven by major infrastructure projects financed by the Land Bank of the Philippines (LANDBANK). Under the leadership of City Mayor Josemarie L. Diaz, the local government unit (LGU) of Ilagan and LANDBANK maintain a strong partnership geared towards the development of the City, with a total loan exposure amounting to P3.5 billion. “Talagang malaki ang naitulong ng LANDBANK sa amin. Halos lahat ng improvement sa Ilagan City ay dahil sa aming pakikipagtulungan sa LANDBANK,” said Mayor Diaz. In support of Ilagan’s development plan, LANDBANK financed the construction of four essential bridges in the City, including the Baculud Overflow Bridge in Brgy. Baculud and the Cabisera 8 Overflow Bridge in Brgy. Santa Maria. These two overflow bridges significantly increased the mobility of Ilagueños, who previously used boats and bamboo rafts to travel across rivers to reach other parts of the City. The bridges also improved the access of residents from remote barangays to basic and support services, such as to their local hospital and public market. LANDBANK likewise financed the concreting of road networks in Ilagan City to enhance the connectivity between its 91 barangays, which is already 90% completed as of end-January 2023. Built with street lamps and concrete drainage, the concrete road network has made transportation safer and more efficient even in remote areas, especially for farmers who previously struggled to transport their agricultural produce to the market. Facilities for healthcare, recreation, and public services LANDBANK also supports the LGU’s priority projects to provide better healthcare and public services. At the height of the COVID-19 pandemic in 2021, the LANDBANK-financed City of Ilagan Medical Center (CIMC) was opened to initially serve as an isolation facility for COVID patients. From having a small infirmary, the enhanced 100-bed CIMC now provides advanced medical services, such as endoscopy, radiology, and hemodialysis. The hospital has already received three International Standardization Organization (ISO) Certifications for Quality Management System, Environment Management System and Occupational Health and Management System. In 2007, LANDBANK approved a P65-million loan to fund the construction of Ilagan’s Municipal Hall – now a City Hall – in Brgy. San Vicente. For the safety and convenience of its constituents and local government employees, LANDBANK likewise financed the construction of the then Ilagan Municipal Hall (now a City Hall) and multi-purpose barangay halls in the City. Other projects of the LGU backed by the Bank include a sanitary landfill for sustainable waste disposal; a new public market that serves as a central hub for vendors; and daycare centers for children. The Ilagan LGU also partnered with the Bank to finance the construction of recreational facilities in the City, including the new Ilagan Sports Complex, a local mall and hotel, as well as a multi-purpose commercial building, all of which generate significant revenue for the LGU. The modern Ilagan Sports Complex funded by LANDBANK hosts national tournaments for various sports and houses a track and field oval certified by the International Association of Athletics Federations (IAAF). P900 million of the LGU’s total loan will finance lot acquisition in the barangays of Alibagu, Marana 1st and Lullutan for various development projects, including the construction of 94 housing units in Alibagu. The loan will also be utilized for the expansion of the Ilagan City Hotel and Convention Center, as well as the establishment of CIMC’s Contagious Disease Building. This will also fund the construction of a public market building in Brgy. Hacienda San Antonio and a bagsakan center with cold storage for agricultural products in Brgy. Marana 1st. “Simula nung kami ay isang municipality pa lamang, nagtiwala na ang LANDBANK sa amin. Kasama namin ang LANDBANK na lumaki at lumago, at ngayon, we can already provide complete and quality services for the welfare of our people. Kaya malaki ang aming pasasalamat sa LANDBANK,” Mayor Diaz added. With the help of LANDBANK, the LGU’s assets grew from P700 million in 2007 to P7 billion in 2022. LANDBANK remains the biggest development partner of LGUs, in fulfilment of the Bank’s mandate to spur countryside development in stride with nation-building. As of end-2022, the Bank’s outstanding loans to LGUs nationwide have reached P91.5 billion in support of local development projects, which include agri-related infrastructure, hospitals, schools, and utilities.
READ MOREAs of Thu, August 28, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.9 | 57.4 |
| JPY | 0.380597 | 0.395314 |
| EUR | 65.289872 | 67.810007 |
| GBP | 75.729263 | 78.65235 |
| HKD | 7.280716 | 7.822529 |
As of Wed, August 27, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.580301 |
| Money Market Fund | 1.327703 |
| Money Market Plus Fund | 1.240858 |
| PERA Money Market Fund | 1.033275 |
| Medium-Term Bond Fund | 2.516988 |
| Bond Fund | 2.080827 |
| PERA Bond Fund | 1.238152 |
| Balanced Fund | 2.708875 |
| Growth Fund | 2.667166 |
| Alpha Equity Fund | 3.175856 |
| Blue Chip Equity Fund | 0.971049 |
| Equity Fund | 0.828378 |
| High Dividend Equity Fund | 1.06464 |
| US$ Money Market Fund | 1.446285 |
| Global $ Fund | 1.572336 |
