KEEP THE MUSIC PLAYXING: Members of the Bohol Persons with Disability (PWD) Workers Multi-Purpose Cooperative (MPC) continue to play at the Tagbilaran Pier with support from the Land Bank of the Philippines (LANDBANK). BOHOL – Amidst the daily hustle and bustle in this Province’s major airport and seaport terminals, an ensemble of visually impaired musicians entertains and comforts passengers with their soothing voices and pitch-perfect harmonies. With their distinct black glasses, acoustic guitars and percussions, these talented individuals perform old to contemporary hits from early morning to seven o’clock in the evening, making the trips of visitors a memorable experience. Performing for arriving and departing passengers serves as the primary source of income for 41-year-old Junare “Jun” A. Baculio to sustain the daily needs of his family. Jun also leads fellow visually impaired performers as the general manager of the Bohol Persons with Disability (PWD) Workers Multi-Purpose Cooperative (MPC), which started in 2016 and is composed of 63 members with different disabilities. The Bohol PWD Workers MPC mainly sources funds from busking at different local airports and seaports, including the Bohol-Panglao International Airport and the Tagbilaran Airport and Pier. They also operate four massage parlors where other physically challenged members offer various massage services. The co-op’s lending services have also delivered significant relief to its members, especially when facing financial difficulties due to unexpected situations. They enjoy loans with zero interest rate for their needs, instead of previously relying on loan sharks that charge as high as 20% interest per month. The pandemic’s silencing effect However, nothing could have prepared the cooperative from the COVID-19 pandemic, which hit the tourism sector hard and drastically reduced passenger traffic. The once jam-packed airport and seaport terminals turned into deserted hubs without any signs of activity. For the members of the Bohol PWD Workers MPC, this meant putting their entertaining melodies into pause and soothing massage services on hold. And as silence filled the airports and seaports that were once alive with their music, the co-op members struggled to make ends meet and provide for their families. With their performances halted, members were left with no other source of daily income, which also cut off the co-op’s source of funding for their relending activities. “Parang huminto lahat dahil sa pandemya. Lahat kami ay nawalan ng pagkakakitaan, simula sa pagkanta sa mga terminals hanggang sa pagmamasahe. Pero tuloy pa rin ang buhay, naghanap kami ng iba pang pwedeng pagkakitaan at lumapit kami sa iba’t ibang organisasyon,” Jun Baculio recounts. LANDBANK helps show the light The Bohol PWD Workers MPC turned to the Land Bank of the Philippines (LANDBANK) to help them sustain their livelihood and endure the pandemic. As the co-op’s reliable partner over the years, LANDBANK maintains a strong relationship with the co-op, with a total loan exposure amounting to P1.1 million. LANDBANK first extended a helping hand to the co-op in 2017 through a loan worth P830,000.00, for the purchase of a service vehicle and to augment the working capital of their relending business. With their new service vehicle, the members are conveniently shuttled to the airports and seaports, including other areas and communities where they are tapped to perform. The Bohol PWD Workers (MPC) availed of a loan from LANDBANK to purchase a service vehicle to conveniently shuttle their membersfrom their respective houses to their workplaces. Since the pandemic significantly decreased their income, LANDBANK approved the restructuring of the co-op’s existing loan in 2022 under the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19) Lending Program with a lower interest rate. The co-op’s existing rediscounting line was also converted into a term loan amounting to P300,000 under the Program, to help cover the daily necessities of the members’ families during the pandemic. “We are very much thankful to LANDBANK. They patiently catered to our financing needs to make the co-op successful, fruitful and productive. Hindi kami nahihirapang lumapit sa kanila,” said Jun. As the country reopened several tourist destinations, the cooperative also made a successful comeback to the airports and seaports, in stride with the economy’s continuing resurgence from the pandemic. Last January, the Bohol PWD Workers MPC was able to fully pay its restructured term loan with LANDBANK and partially paid in advance its converted rediscounting line. Today, the co-op looks to expand its operations by tapping the Bank’s assistance anew for lot acquisition and the construction of its new head office. LANDBANK has continued to support the financial requirements of the Bohol PWD Workers MPC along with the whole cooperative sector. As of 31 January 2023, LANDBANK’s outstanding loans to the sector have reached P66.6 billion serving over 1,360 co-ops nationwide.
READ MORELANDBANK-backed Agsirab Multi-Purpose Cooperative (MPC) continues to expand its lending operations while venturing into farm machinery rental, calabasa pancit production, and bakery business. The Capiz-based co-op currently has a membership base of more than 450 agrarian reform beneficiaries, farmers, and indigenous people. DUMARAO, Capiz – Agrarian reform beneficiary (ARB) Evelyn F. Bardies, a mother of four, toils on her awarded land to meet the daily needs of her family. It did not help that she used to rely on local dealers and traders to finance her farm input requirements for corn production. From the mountain barangay of Agsirab, she needed to travel back and forth to Roxas City to process her loan applications and deal with delayed transactions that unfavorably affected her farm’s overall productivity. Worse, her loans came with a hefty interest rate of 7% to 10% per month, leaving her with very little profit or sometimes even nothing at all despite all of her hard work. “Mahirap magpabalik-balik sa bayan para makipag-transact sa dealers at traders. ‘Yung iba ay hindi ako pinagbibigyan dahil wala silang tiwala, natatakot sila na baka hindi ako makapagbayad. At dahil sa laki ng interes, maliit lang din yung kinikita ko,” Evelyn recounts. The story of Evelyn mirrors the struggles of other ARBs from Brgy. Agsirab. This dire situation pushed them to form the Agsirab Multi-Purpose Cooperative (MPC) in 2009, to pool resources and provide affordable and accessible credit assistance for its members. They initially chipped in P1,000 each and gathered a total of P25,000 in paid-up capital. They persevered to secure all the necessary permits to establish the co-op, and started gaining the trust of other ARBs, including those who previously had bad experiences in joining unsuccessful cooperatives. Driven by persistence and a determined spirit, the Agsirab MPC has grown into a profitable cooperative with assets reaching over P25 million today. It has likewise expanded its membership to more than 450 ARBs, small-scale farmers, and indigenous people, some from the nearby provinces of Iloilo, Antique and Aklan. The Agsirab MPC found a reliable partner in the Land Bank of the Philippines (LANDBANK) in sustaining and growing its operations. The co-op availed from the Bank an initial credit line of P993,000 in 2012, which eventually increased to P30 million at present due to the co-op’s satisfactory repayment record. Apart from providing loans to its members, the Agsirab MPC has been successful in expanding its services and income-generating portfolio by venturing into farm machinery rental, calabasa pancit production, and bakery business. “Malaking malaki ang naitulong sa amin ng LANDBANK. Dahil sa kanila, nakaahon kami sa hirap at nakapagsimula ng maginhawang buhay. Sana hindi sila magsawang magpaabot ng tulong sa aming kooperatiba,” said Evelyn, who now serves as Agsirab MPC chair. Agsirab MPC Chair Evelyn F. Bardies is able to provide a comfortable life for her family through higher farm productivity and income. With convenient access to affordable credit and modern equipment, members of the Agsirab MPC now enjoy improved farm productivity and income. Evelyn shares that the co-op’s members are able to meet the basic needs of their families and regularly provide meals on the table. Most have been able to save for the construction of their own dream houses and purchase of vehicles. Evelyn herself was able to send her four children to school and give them a comfortable life. She likewise acquired additional agricultural lands and provide employment opportunities for local farm workers. Through the years, LANDBANK has stood side-by-side with the cooperative sector to serve their growth requirements. As of 31 January 2023, LANDBANK’s outstanding loans to the sector have reached P66.6 billion, benefitting over 1,360 co-ops nationwide.
READ MOREALL CONNECTED: Quirino Governor Dakila Carlo “Dax” Cua takes a selfie with students from the Quirino General High School, who will soon benefit from the Province’s free public Wi-Fi project financed by the Land Bank of the Philippines. (Photo courtesy of the Provincial Government of Quirino) QUIRINO Province – When the COVID-19 pandemic abruptly forced schools to halt face-to-face classes and shift to online learning, the need for improved access to online learning resources became more pressing. Among those who struggled to cope with this set-up were students and teachers belonging to marginalized and rural areas in the Province of Quirino, as many of them did not have access to reliable and high-speed internet connection. To address this gap, the Provincial Government of Quirino under the leadership of Governor Dakila Carlo E. Cua sought the assistance of the Land Bank of the Philippines (LANDBANK) to enhance the internet connectivity and accessibility in the Province. Under the RISE UP LGUs (Restoration and Invigoration package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, LANDBANK approved a P67-million loan to finance the digital infrastructure project of the Quirino LGU, which aims to provide free Wi-Fi in schools and other public areas in the Province in its first phase. The LANDBANK loan covers the procurement of an internet service provider; Wi-Fi equipment such as routers, modems and cables; and the installation of towers, among other provisions. The installation of the Wi-Fi equipment is already underway, with the Quirino LGU prioritizing schools, public markets, rural health units, municipal and barangay halls, and other public spaces to maximize the benefits of the improved internet infrastructure. Once completed this year, the project will provide students and residents with free internet access with speed of up to two gigabytes per second. The free Wi-Fi project is expected to boost education, healthcare, tourism, and public services in the Province by enabling and enhancing access to convenient online platforms. “LANDBANK’s financing facility is a big boost to the initiatives of LGUs. It provides relief to struggling LGUs while we ramp-up our efforts to mitigate the impact of the pandemic,” said Quirino Governor Cua. LANDBANK helps LGUs to rise up Under the RISE UP LGUs Lending Program, LANDBANK has approved loans totaling P113 billion for 408 LGUs as of 28 February 2023, to help ensure the resilient and sustainable recovery of local economies from the pandemic. Provincial, city and municipal governments may borrow from LANDBANK to finance their development and innovative projects geared towards rebuilding their communities and local economies. “LANDBANK continues to support local government partners toward full recovery from the pandemic, while also strengthening their capacity to withstand future crises. We aim to help develop resilient communities as part of our expanded mandate of serving the nation,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. Eligible projects allowed under the Program include the purchase of agricultural produce, acquisition of equipment and construction of facilities to link products to the market, including other programs and projects of the LGU that provide basic and support services, social welfare, healthcare, and other infrastructure activities. LANDBANK has increased the fund allocation for the Program to P150 billion—15 times higher from the initial P10-billion in 2020—to accommodate more LGUs nationwide. The LANDBANK RISE UP LGUs Lending Program will be available until July 2025. Interested LGUs may contact the nearest LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.
READ MOREDhaemyze Wong, a Grade 7 student from Poro, Cebu, opened a LANDBANK PISO account – her very first bank account – on 27 January 2023, with just P1.00 as initial deposit and one valid ID. PORO, Cebu – 74-year-old Jesus Abao Wong has always dreamed of teaching his granddaughter the value of saving for the future – a lasting legacy he hopes she will cherish someday. “I have always wanted to open an ATM savings account for my granddaughter and teach her how to save for her future,” he said. However, he was worried that his 12-year-old granddaughter, Dhaemyze, would have difficulty opening and managing her own bank account, especially in preparing and submitting the necessary documentary requirements. So when he learned about the PISO (Perang Inimpok Savings Option) account offered by the Land Bank of the Philippines (LANDBANK), he immediately accompanied Dhaemyze to the LANDBANK Camotes Branch and successfully opened her very first bank account, with just P1.00 as initial deposit and one valid identification card. “The process was as easy as 1-2-3. As soon as we entered the premises of LANDBANK, we were promptly assisted by the personnel who helped us throughout the application process,” Jesus excitedly shared. Launched in 2022, the LANDBANK PISO account is offered to individuals without existing deposit accounts and have no capacity to open a regular deposit savings account with higher maintaining balance and documentary requirements. With her LANDBANK PISO account, Dhaemyze can now securely keep her extra cash from her school allowance and savings, and more importantly, develop healthy financial habits at an early age with the guidance of her grandfather. “LANDBANK personnel have always been courteous and friendly. As a customer, I am confident that they will always be ready to assist the banking needs of my granddaughter anytime,” added Jesus. Banking the unbanked As of 31 March 2023, LANDBANK has opened close to 18,000 PISO accounts for unbanked and underserved Filipinos, including students, public utility vehicle drivers, vendors, household helpers, farmers, and fishers. This covers remote communities across the country, reaching as far as the municipalities of Basco, Batanes; Moalboal, Cebu; Mati, Davao Oriental, and Claver, Surigao del Norte, among other far-flung areas. With the LANDBANK PISO, accountholders can access the Bank’s menu of digital banking channels such as the iAccess, Link.BizPortal, and the Mobile Banking App for convenient fund transfer, bills payment, and balance inquiry services. Accountholders can also use the PISO account in any LANDBANK, BancNet, and 7-Eleven Automated Teller Machines (ATMs), domestic Point-of-Sale (POS) terminals, and for over-the-counter transactions in their respective LANDBANK branch of account. To open a LANDBANK PISO account, interested individuals only need to bring one peso and one valid ID or any Barangay certification/clearance for verification to the nearest LANDBANK Branch.
READ MOREThe Land Bank of the Philippines (LANDBANK) continues to firm up its support to the agriculture sector, with outstanding loans reaching P271.8 billion as of 31 March 2023 – a 14.8% year-on-year growth from P236.8 billion in the same period in 2022. Of the Bank’s agri loans, P42.3 billion directly benefitted small farmers and fishers, including those which were channeled through cooperatives and farmers’ associations, rural financial institutions and other conduits. “LANDBANK continues to provide accessible financing for small farmers and fishers, as well as the whole agri-value chain. We are fully committed to supporting the National Government’s efforts to ensure food security towards advancing growth that is sustainable and inclusive,” said LANDBANK President and CEO Cecilia Cayosa Borromeo. As support to other agri-value chain players, LANDBANK extended P181.2 billion to finance the requirements of small, medium and large agribusinesses. The remaining P48.3 billion in loans backed agri- and aqua-related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs). In terms of economic activities, P64.5 billion of the agri loans were channeled to boost livestock and crop production, while P120 billion accounted for loans for agri-processing and trading. Meanwhile, P87.3 billion supported the construction and improvement of essential agri infrastructures such as public markets, farm-to-market roads, warehouses, cold storages, and irrigation systems, among others. Intensified support to rice, coconut industries In support of the National Government’s thrust to boost palay production and ensure sufficient rice supply in the country, the Bank continues to ramp up its lending activities to rice farmers and other rice industry stakeholders. As of end-March 2023, LANDBANK’s outstanding loans to the local rice industry has reached P9.7 billion to finance requirements for palay production and processing, such as farm inputs, machineries, equipment, and facilities, among others. Apart from loans, the Bank has also distributed cash grants amounting to P1.5 billion to 291,241 farmer-beneficiaries nationwide under the Rice Competitiveness Enhancement Fund - Rice Farmers Financial Assistance (RCEF-RFFA) Program, in partnership with the Department of Agriculture (DA). LANDBANK likewise continues to provide responsive credit assistance to the coconut sector with outstanding loans amounting to P643 million, benefitting coconut farmers and other stakeholders engaged in the production and processing of coconut-based products. Earlier this year, LANDBANK launched its new Coconut Farmers and Industry Development (CFID) Lending Program, in support of the Coconut Farmers and Industry Development Plan (CFIDP) spearheaded by the DA and the Philippine Coconut Authority (PCA). Under the Program, eligible coconut farmers, cooperatives and associations can access financing for various projects, including the establishment of intercrops and poultry or livestock integration in coconut farms. Individual coconut farmers can use the loan to increase production and working capital, to acquire machines and equipment, and establish necessary facilities. Coconut cooperatives and associations can also utilize the financing for relending and rediscounting to their members. LANDBANK will provide short-term and long-term loans with a fixed affordable interest rate of 2% per annum.
READ MOREThe LANDBANK Link.BizPortal provides traffic violators with a safe and convenient option to settle traffic violations under the Metro Manila’s Single Ticketing System anytime and anywhere. Traffic violators under the recently implemented Single Ticketing System in Metro Manila may conveniently settle their fines and charges online, through an alternative online payment facility powered by the Land Bank of the Philippines (LANDBANK). The LANDBANK Link.BizPortal has been integrated into the Single Ticketing System webpage of the apprehending local government units (LGUs), for an easier and more accessible online payment system. Motorists can settle traffic fines and charges through the Link.BizPortal using their LANDBANK and Overseas Filipino Bank (OFBank) accounts, as well as virtual accounts opened via LANDBANKPay—the state-run Bank’s all-in-one electronic wallet and payment solution. Accounts with BancNet or PayGate participating banks and other e-wallets can also be utilized when transacting through the LANDBANK Link.BizPortal. The cash payment option is likewise available through cash and partner agents, including LANDBANK Agent Banking Partners (ABPs). The Link.BizPortal eliminates the need to go to the offices of the Metropolitan Manila Development Authority (MMDA) and apprehending LGUs for over-the-counter transactions, providing motorists with a safe and convenient option to settle traffic violations anytime and anywhere. Prior to the pilot implementation of the Single Ticketing System in Metro Manila, LANDBANK has been facilitating the online collection of MMDA payments, fees and charges through the Link.BizPortal since June 2021. As of 30 April 2023, the LANDBANK Link.BizPortal has recorded over 160 transactions amounting to P109,734 for the settlement of traffic violations and anti-littering penalties for MMDA. The pilot implementation of the Single Ticketing System covering the cities of Caloocan, Manila Muntinlupa, Parañaque, San Juan, Valenzuela, and Quezon City started on 02 May 2023. The new system seeks to harmonize existing laws on traffic enforcement and management in Metro Manila, including standardizing the fines and penalties for common traffic violations and providing interconnectivity among government instrumentalities involved in transport and traffic management. The MMDA is among the more than 1,230 government and private partner merchants in the LANDBANK Link.BizPortal, which allows customers to conveniently pay for products and services online. The Portal also promotes transparency and efficiency by reducing opportunities for red-tape, corruption and other fraudulent practices. LANDBANK supports the digitalization of the country’s payment systems and services towards building a cashless and inclusive society being promoted by the Bangko Sentral ng Pilipinas (BSP).
READ MOREIn its continued support of the sugar industry, the Land Bank of the Philippines (LANDBANK) has extended a total of P1.55 billion in outstanding loans to the sugarcane sector as of April 2023. Of the total disbursements, a cumulative release of P700.45 million in loans have benefitted a total of 4,366 individuals under the Socialized Credit Program-Sugarcane Industry Development Act (SCP-SIDA). In partnership with the Sugar Regulatory Administration (SRA), the SCP-SIDA has provided support to 2,577 borrowers, composed of 2,567 individual small farmers, four cooperatives, five associations and one Micro, Small, and Medium Enterprise from 16 different provinces nationwide. "LANDBANK is committed to driving growth in all industries of the agricultural sector. This includes pushing for sustainability and increasing the production and income of sugarcane farmers and workers," said LANDBANK President and CEO Lynette V. Ortiz. The SCP-SIDA aims to optimize the productivity of sugarcane farms by promoting advanced and cost-efficient farming practices, enabling farmers to invest in modern farming techniques, procure high-quality inputs, and acquire necessary equipment for higher yields and improved crop quality. Rodolfo Medina, Chairman of the Dampe Palay and Sugarcane Producers Cooperative in Pampanga, attests to the positive impact of the SCP-SIDA program on their cooperative. "Thanks to SCP-SIDA, our cooperative has experienced remarkable growth, and our members' livelihoods have significantly improved. We are immensely grateful to LANDBANK and SRA for their unwavering support and commitment to the sugarcane industry," said Mr. Medina. Through the financial support under SCP-SIDA with a low interest rate of 2% per annum, the cooperative was able to procure a tractor, combine harvester, and a ten-wheeler truck to enhance their harvesting and production processes. LANDBANK and SRA remain steadfast in their collective commitment to supporting sugarcane farmers address the emerging challenges and capitalize on new opportunities in the industry.
READ MORELANDBANK has assisted the MHD Water Bottling Station to expand its operations and improve the supply of clean drinking water in the Province of Isabela. The home-grown business now produces around 5,000 bottles of alkaline water per day which are sold and delivered to sari-sari stores, schools, and offices, among other establishments. (Photos courtesy of MHD Water Bottling Station) QUIRINO, Isabela – While many far-flung areas in the country still lack access to clean drinking water, a local water refilling and bottling station is helping close this gap by supplying potable water in Isabela. MHD Water Bottling Station was established in 2008 when Spouses Eddie and Marites Dalit discovered a deep well on their 3-hectare agricultural property. Water sourced from the well passed the regulatory standards for alkaline drinking water safe for human consumption. Spouses Dalit saw this as a business opportunity to supplement their income, but more importantly, to expand access to clean and safe drinking water in their town. “Bukod sa dagdag na income para sa aming pamilya, gusto rin naming ibahagi ang blessing na ito sa aming kapwa,” said Marites. In 2009, Eddie and Marites expanded their business by operating their own alkaline water refilling station, bringing potable water closer to the residents of the 4th class municipality of Quirino and nearby towns. Following its success, they decided to further expand into water bottling to accommodate more customers in the region. To finance their business expansion, Spouses Dalit sought the assistance of the Land Bank of the Philippines (LANDBANK), which has been providing credit assistance to support their palay and corn trading business for over 20 years. “Matagal na kaming LANDBANK client at masasabi ko na talagang maaasahan ang kanilang serbisyo,” said Marites. LANDBANK approved a P4.5-million loan to partially finance the acquisition of alkaline water production and processing equipment, including the purchase of an automatic bottle rinsing, filling, capping, and labelling machine. Through a P4.5-million loan from LANDBANK, Eddie and Marites were able to purchase the necessary equipment to expand their business into an alkaline water bottling station. The equipment includes an automatic bottle rinsing, filling, capping, and labelling machine which can produce about 5,000 bottles of alkaline water per day. With their business expansion, Eddie and Marites made their alkaline water more accessible to remote communities, since bottled water is easier to transport and distribute around the Province. The MHD Water Bottling Station is able to produce around 5,000 bottles of alkaline water per day, which are delivered to 10 schools in Isabela, as well as government and private offices, and sold to walk-in customers in their station in Brgy. Santo Domingo. Through their distributors, they are also able to supply drinking water to nine other towns and cities in Isabela and Cagayan, including Gamu, Delfin Albano, Tumauini, and Naguilian, among others. “Napakalaki ng naitulong ng LANDBANK sa amin. Salamat sa kanila at napalago namin ang aming negosyo,” said Marites. LANDBANK continues to provide accessible credit support to micro, small and medium enterprises (MSMEs), as part of its commitment to assist key economic sectors towards building stronger and more inclusive local communities. As of end-April 2023, LANDBANK has extended P50.1 billion in outstanding loans to over 6,000 MSMEs nationwide.
READ MOREThe 670-hectare township development of Pueblo de Panay, Inc. (PDPI) in Roxas City, Capiz steers local economic activities and generates employment opportunities for almost 10,000 locals. The construction and improvement of various projects within the property are supported by LANDBANK, which has been PDPI’s development partner since 2017. (Photo courtesy of PDPI) ROXAS CITY, Capiz – Nestled amid the lush greenery of a tranquil rural landscape is a 670-hectare mixed-used township development of the Pueblo De Panay, Inc. (PDPI) that has been a contributing pillar to Roxas City’s bid for inclusive development. Home to various commercial establishments, agro-industrial zones, and endearing tourist attractions—with a residential component that integrates Capiznons’ traditional lifestyle with contemporary living—the PDPI mega township development steers local economic activities and generates average foot traffic of 60,000 alongside employment opportunities for almost 10,000 locals. Before becoming one of the largest real estate developers in the region, the journey of PDPI started with Ong Family’s humble beginnings in 2001 having only P1.7 million in capital. Today, the family-led PDPI has grown into a developer of several successful horizontal and vertical residential and commercial projects, providing housing and business opportunities to all market segments in Roxas City. Recently, PDPI ramped up improvements in its property to accommodate key locators, including business process outsourcing (BPO) companies, restaurants, hotels, banks, government offices, and other firms that provide local employment. As with any business expansion, the PDPI needed financial backing for its plans and projects to fruitfully materialize. They turned to the Land Bank of the Philippines (LANDBANK) in 2017, and secured funding for the construction of a seven-story BPO building and fish processing plant in the township. The six-story BPO building (left) and fish processing plant (right) in Pueblo de Panay are among the first developments financed by LANDBANK in support of PDPI’s expansion plan. LANDBANK likewise extended financing support for site development of a 7.4-hectare IT Park that can host up to 10 BPO buildings; construction of a five-story building to be occupied by a private educational institution; and concreting of roads across the development, which include drainage works and electrical and water lines. “LANDBANK and PDPI share the same vision of promoting countryside development and inclusive growth. It’s about connectivity: We understand them, and they understand us. We are lucky to have LANDBANK as our reliable partner,” said PDPI Chief Operations Officer Lex Lavin. Pueblo de Panay has transformed a once undeveloped parcel of land into a master-planned township and viable investment destination designed by the Singaporean firm Surbana Jurong. The township has become a bustling business hub where people can live, work, relax, and have fun, embodying the company’s advocacy of “Life. Work. Balance.” With this success, the PDPI has proven that a countryside-based and homegrown brand could have world-class aspirations and be a catalyst of local growth. The firm is committed to pursue this undertaking by stepping up further developments within the township. Responding to the call of the National Government to alleviate the housing backlog of the country, PDPI is developing additional residential projects in the next five years to provide almost 2,000 housing units for middle-income households, including an affordable housing project to cater to government workers and Overseas Filipino Workers (OFWs). With the help of LANDBANK, the Capiz-based developer is also planning to expand in other key cities and towns and offer PDPI’s brand of excellence all over the country. “We understand that LANDBANK is always there to support and guide us in our quest to provide the same development in other key cities, as well as underserved communities. We want to be there to give them the quality of life they deserve as Filipinos. That’s what we want. It’s not only about the profit we earn, but about the number of people benefitting from our projects,” Lavin said. Alongside its focus on supporting the agriculture sector, LANDBANK has been servicing emerging sectors and industries in line with fulfilling its expanded mandate of driving countryside and national development.
READ MORE(front) Davao del Sur Governor Yvonne Roña Cagas (4th from right) and LANDBANK Senior Vice President Charlotte I. Conde (5th from right) lead the signing of a P700-million loan agreement to fund various development projects in the Province of Davao del Sur. (Photo courtesy of Davao del Sur PIO) DAVAO DEL SUR – The Land Bank of the Philippines (LANDBANK) is extending a P700-million loan to the Provincial Government of Davao del Sur to finance the province’s development projects in health, tourism, infrastructure, and digitalization. The Provincial Government and LANDBANK recently signed a loan agreement to formalize the partnership. It was led by Governor Yvonne Roña Cagas and LANDBANK Senior Vice President Charlotte I. Conde, and witnessed by other local and Bank officials. “LANDBANK is working closely with Davao del Sur and other local government partners nationwide for the rollout of meaningful projects to promote economic activities. Our support to local communities will further drive our broader thrust of serving the nation in support of the National Government’s inclusive development agenda,” said LANDBANK President and CEO Lynette V. Ortiz. Of the total loan amount, P215 million will be allocated to upgrade the Davao del Sur Provincial Hospital (DSPH), including the acquisition of various medical, dental and hospital laboratory equipment for enhanced delivery of healthcare services. The planned expansion and improvements will effectively upgrade the DSPH from a Level II to a Level III Tertiary hospital, with an increased bed capacity of 200 and a three-story building dedicated as a birthing facility. Complementing the Provincial Government’s bid for enhanced healthcare services is the establishment of a Bio-Medical Waste Management System to be funded through P40 million from the approved loan. The system will be designed to comply with the strictest environmental and bacteriological reduction standards. Meanwhile, some P220 million will also finance the completion of the Gov. Douglas Ra. Cagas Sports Complex and Business Center in Digos City. The project includes the construction of a rubberized track and field oval, basketball, volleyball, and badminton courts, and improvement of the existing grandstand, among others. Another P125 million will be allocated to purchase brand-new heavy equipment and service vehicles, to be used in the maintenance and rehabilitation of roads, bridges and other infrastructure projects across the province for improved mobility of people and agricultural produce. The remaining P100 million will be dedicated to the establishment of the Revenue Administration and Management System with Integrated Financial Management Information System, aimed to automate the Provincial Government’s transactions and services. The system is also expected to further advance the local government’s efforts in the delivery of efficient public service while promoting transparency and accountability. LANDBANK continues to extend necessary credit assistance to local government units (LGUs) to spur inclusive and sustainable economic development. As of end-April 2023, the state-run Bank’s outstanding loans to LGUs nationwide hit P95.12 billion.
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 |
