LANDBANK launches convenient mobile app for commuters

In line with the modernization of the country’s transport sector, the Land Bank of the Philippines (LANDBANK) is now offering a mobile transit app for cashless and contactless payment in public utility vehicles (PUVs) equipped with the Automated Fare Collection System (AFCS) EMV solution.  Through the LANDBANK mCommuter app, commuters can conveniently pay for transportation fares in AFCS-enabled vehicles by scanning the app-generated Quick Response (QR) Code, or by simply tapping their smartphones capable of supporting Near-Field Communication (NFC) technology on payment terminals.  “The LANDBANK mCommuter app supports the government’s transport modernization agenda, geared towards enhancing the daily travel experience of commuters. This is part of our continued efforts to leverage digital technology to serve commuter needs,” said LANDBANK President and CEO Cecilia C. Borromeo.  To register and access the features of the mCommuter app, users must be Full Wallet Accountholders of LANDBANKPay—the Bank’s all-in-one mobile wallet.  Once registered in mCommuter, fares will be automatically debited from the user’s LANDBANKPay account. Users may also link their LANDBANK EMV contactless prepaid and credit cards to the app to monitor their transit payment transactions and passenger journey.  Other mCommuter features scheduled for future roll-out include advance booking of tickets and discounted fares in PUV units.  Starting 13 September 2022, the mCommuter app is free to download in the Google Play Store, and soon in the Apple App Store.  LANDBANK and the Department of Transportation (DOTr) recently launched the interim operation of 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 3, Calabarzon, and Metro Cebu. Aside from the mCommuter app, LANDBANK contactless cards may also be used as cashless payment instruments in AFCS-enabled PUV units.

Isabela fish farm reels in success with LANDBANK support

LANDBANK assisted the operations of A.R. Santiago Fish Farm, owned by Arnel Santiago (left photo) in San Mateo, Isabela, which now produces 300,000 to 500,000 tilapia fingerlings monthly that are sold regularly to fish pond operators, government agencies, and other buyers in the Cagayan Valley and Cordillera Administrative Region (CAR). SAN MATEO, Isabela – When Cagayan Valley, one of the country’s largest tilapia-producing regions, faced a region-wide shortage of tilapia fingerlings in 1993, business graduate Arnel Santiago decided to establish his own fish hatchery to help boost local production and earn additional income.  With no prior experience in aquaculture but armed with determination to learn about fish farming, Arnel completed trainings on fish pond operations and established A.R. Santiago Fish Farm. He was able to sustain his operations until 2002, when running his business became a challenge due to lack of capital. It was then that Arnel availed of his first loan from the Land Bank of the Philippines (LANDBANK) to purchase feeds and modern equipment such as water pumps and a backhoe, as well as a 2.4-hectare agricultural land to expand his fish farm.  Through LANDBANK’s continuing credit assistance over the years—which has since amounted to P6.4 million—Arnel’s fish production increased from an average of 100,000 tilapia fingerlings to 300,000 to 500,000 fingerlings per month.  “Isang taos-pusong pasasalamat sa LANDBANK. Dahil sa tulong nila ay umasenso at napalawak ko ang aking negosyo. Nakatulong rin ako na mapunan ang kakulangan sa produksyon ng tilapia dito sa aming rehiyon,” said Arnel. A.R. Santiago Fish Farm now supplies fingerlings to various fish pond operators and buyers in Cagayan Valley and the Cordillera Administrative Region (CAR). The farm is also tapped by the Bureau of Fisheries and Aquatic Resource (BFAR) Region II and other local government units to supply fingerlings for their distribution activities to fish farmers.  With his increased income, Arnel was able to purchase a solar irrigation system to power his water pumps during daytime. This has since reduced monthly operational expenses by 30%. “Consistent with the country’s continuing recovery, LANDBANK remains committed to catering to the financial requirements of the fisheries sector. We are assisting fishers and other key players to boost their production and income,” said LANDBANK President and CEO Cecilia C. Borromeo. To support the local fishing industry in Isabela, Arnel offers technical assistance to new fish breeders who want to venture into the tilapia breeding business. The A.R. Santiago Fish Farm is now accredited as a ‘Learning Site for Agriculture’ by BFAR, the Agricultural Training Institute (ATI), and Technical Education and Skills Development Authority (TESDA). Arnel has also reaped various awards for his accomplishments as a fish farmer from the Department of the Agriculture (DA) and the Local Government of San Mateo.  “Gusto kong ibahagi ang aking expertise at technical knowledge sa bagong henerasyon, para masiguro ang tuloy-tuloy na paglago ng aquaculture industry sa ating bansa,” Arnel added.  LANDBANK remains to be the biggest lender to the agriculture sector, with a total agri loan portfolio of P257.94 billion and having assisted more than 3.2 million small farmers and fishers nationwide as of 31 May 2022.

LANDBANK lends P5.8-B to boost climate resiliency of agri sector

In support of building a climate-resilient agri-business value chain in the country, the Land Bank of the Philippines (LANDBANK) has approved loans totaling P5.8 billion to 15 borrowers as of 30 June 2022.  Through the LANDBANK Climate Resilient Agriculture Financing Program, the Bank aims to finance farming technologies, systems, facilities and equipment that will help local farms and fisheries become more adaptive and resilient to the effects of climate change, such as severe storms and prolonged drought.  “LANDBANK supports investments in innovative technologies that will help address climate change risks in the agriculture sector. This modernization is aimed towards improving the production and income of our local farmers while ensuring national food security amid the changing global climate,” said LANDBANK President and CEO Cecilia C. Borromeo. The Program can finance crop, livestock, and fishery projects that utilize climate-resilient technologies, such as the adoption of planting materials and seedling techniques for climate-resistant food crops, pipe irrigation that helps prevent water loss during dry season, and climate-adaptive farming systems such as terracing. Modern facilities and equipment that minimize harvest and post-harvest losses during typhoons can also be financed under the Program, including rice harvesters, dryers and outdoor grain storage facilities.  The Program can also provide credit fund for working capital and the construction of facilities such as greenhouses, reservoirs, rainwater collecting systems, and farm-to-market roads with drainage, and other new and emerging technologies approved and endorsed by the Department of Agriculture (DA) and the concerned Municipal Agricultural Office. Under the LANDBANK Climate Resilient Agriculture Financing Program, cooperatives, associations, and private borrowers categorized as single proprietorships, partnerships, or corporations may borrow up to 80% of the total project cost. Meanwhile, local government units (LGUs) may borrow not more than their net borrowing capacity as certified by the Bureau of Local Government Finance (BLGF).    Term loans for working capital and permanent working capital are payable up to one (1) year and three (3) years, respectively, while loans for fixed assets and construction of facilities are payable based on cash flow but not more than its economic useful life. The interest rate shall be based on the prevailing market rate.  The LANDBANK Climate Resilient Agriculture Financing Program underscores the Bank’s commitment towards advancing a more resilient agriculture sector while promoting environmental sustainability.  Meanwhile, in his recent State of the Nation Address (SONA), President Ferdinand Marcos, Jr. identified climate change and its impact on agriculture as one of the top priorities of his administration. Through the years, LANDBANK has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development.  On 8 August 2022, the state-run Bank celebrated its 59th anniversary, representing almost six decades of service to the nation.

Estrella, Borromeo approve IRR on agrarian debt moratorium

Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo and Agrarian Reform Secretary Conrado M. Estrella III hold the signed implementing rules and regulations (IRR) for Executive Order No. 4 Series of 2022.  In compliance with the directive of President Ferdinand R. Marcos, Jr., Agrarian Reform Secretary Conrado M. Estrella III and Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo, today, September 28, 2022, signed the Joint Administrative Order providing the implementing rules and regulations (IRR) for Executive Order No. 4 Series of 2022, which declares a moratorium on the payment of land amortization and interests for agrarian reform beneficiaries. Signed by the President on September 13, 2022, the EO entitled, “Directing the Implementation of a Moratorium on the Payment of the Principal Obligation and Interest of the Amortization Due and Payable by Agrarian Reform Beneficiaries,” calls for a one-year moratorium on loan payments of Agrarian Reform Beneficiaries (ARBs) who received agricultural land under the Comprehensive Agrarian Reform Program (CARP). “It is our duty in the government to prioritize the farmers, not only because they are the ones who keep us alive, but because they will make our economy rise again,” the President said. The IRR signed by the Department of Agrarian Reform (DAR) and LANDBANK specifies that the one-year moratorium covers the payment of the Principal Value and the Annual Interest Due and payable by the ARBs.  “The one-year moratorium period will provide the needed time for Congress to pass the law condoning the existing agrarian reform loans for the current ARBs and free land distribution for future beneficiaries,” Estrella said. It primarily covers the financial obligation to pay the total cost of the land under Presidential Decree No. 27, including interest at the rate of six percent (6%) per annum as provided under Section 6 of E.O. No. 228; and the financial obligation to pay the principal value including the six percent (6%) annual interest of the thirty (30)-year land amortization of the ARBs under Section 26 of RA No. 6657, as amended. “LANDBANK supports this historic initiative which is now taking off. We will provide immediate financial relief to ARBs nationwide, and yield positive results towards ensuring food security in the country,” said LANDBANK President Borromeo. LANDBANK serves as the collection agent of the National Government for land amortizations from ARBs, pursuant to its mandate as the financial intermediary of the CARP. All collections are remitted by the Bank to the Bureau of the Treasury (BTr) as part of the revenue of the National Government. The DAR-LANDBANK Joint Administrative Order covers the identification of beneficiaries qualified to avail of the one-year payment suspension, with the impact of the initiative to enhance the productivity and profitability of the ARBs duly documented and promoted.  EO No. 4 directs the DAR and LANDBANK to jointly submit to the Office of the President, through the Office of the Executive Secretary, a comprehensive report on the implementation of this Order, including data on the number of ARBs actually covered and impact of the moratorium, among others. The DAR-LANDBANK Joint Administrative Order shall take effect upon publication in the Official Gazette or in a newspaper of general circulation.

LANDBANK, Bongabong LGU lead groundbreaking of Agri-Hub

Bongabong Municipal Mayor Elegio A. Malaluan (5th from left) and Vice Mayor Richard S. Candelario (4th from left), together with LANDBANK representatives, lead the groundbreaking ceremony at the LGU municipal compound on 6 September 2022. The activity was witnessed by LGU officials and several local businessmen from the Municipality.   BONGABONG, Oriental Mindoro – To better serve the requirements of farmers and fishers, a Land Bank of the Philippines (LANDBANK) Agri-Hub will soon rise at the compound of the Municipal Government of Bongabong. Bongabong Mayor Elegio A. Malauan, together with LANDBANK Oriental Mindoro Lending Center Head, Assistant Vice President Edwin Roel Ramos; Calapan San Vicente Branch Head, Department Manager Ferdinand E. Abas; and Pinamalayan Branch Head Lizza Mae D. Camposano, led the groundbreaking ceremony on 6 September 2022. Mayor Malauan expressed his gratitude to LANDBANK, as the new touchpoint in the locality will spur local economic growth and development—which are priorities under his administration. “The establishment of this Agri-Hub is a testament to our continued commitment to serve key players in the agribusiness value chain. We hope to generate more economic opportunities and activities in the Municipality and nearby areas,” LANDBANK President and CEO Cecilia C. Borromeo said. The construction of the LANDBANK Bongabong Agri-Hub is set to commence within the month and expected to be inaugurated in late December 2022, in addition to the Bank’s 10 existing Agri-Hubs nationwide. The Bongabong Agri-Hub will provide accessible financial services mainly to the 12,233 farmers and fishers in the Municipality, to complement the nearest LANDBANK Lending Center in Calapan City. The Agri-Hub will also deliver banking services to public and private clients of the Bank, including 5,360 beneficiaries of National Government’s Conditional and Unconditional Cash Transfer (CCT/UCT) Programs in the Municipality.  The LANDBANK touchpoint will be equipped with various digital banking platforms, including the Digital Onboarding System (DOBS), which simplifies the account opening process for new clients to only 10-15 minutes.

LANDBANK AgriSenso puts spotlight on affordable financing for agri players

(clockwise from upper left) LANDBANK Program Management Department I Head, Assistant Vice President Edgardo S. Luzano, together with Kuvi Integrated Farm owner Rogelio T. Giangan, Cagayan rice farmer Vanessa Morillo, and Dampe Palay and Sugarcane Producers Cooperative Chairperson Rodolfo H. Medina, leads the third run of the LANDBANK AgriSenso Virtual Forum, which puts the spotlight on the legislated programs jointly implemented by LANDBANK and the Department of Agriculture (DA) to support individual farmers and fishers and other agriculture players. State-run Land Bank of the Philippines (LANDBANK) remains aggressive in extending affordable financing for individual farmers and fishers, and other players in the agriculture value chain through loan programs jointly implemented by the Bank with the Department of Agriculture (DA).  The third run of the LANDBANK AgriSenso Virtual Forum on 19 September 2022 featured loan availers, namely Kuvi Integrated Farm owner Rogelio T. Giangan from North Cotabato, rice farmer Vanessa Morillo from Sto. Niño, Cagayan, and Dampe Palay and Sugarcane Producers Cooperative Chairperson Rodolfo H. Medina from Floridablanca, Pampanga, who shared how their productivity and income improved following the financial support from LANDBANK and DA. LANDBANK Program Management Department I Head, Assistant Vice President Edgardo S. Luzano discussed available financing with as low as 2% annual interest rate for individual farmers and fishers and their cooperatives and associations, as well as for micro and small enterprises (MSEs). Under the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, LANDBANK provides credit assistance for the purchase of farm inputs and acquisition of agricultural fixed assets. The loanable amount for individual farmers and fishers is up to P1 million, while cooperatives, associations and MSEs may borrow a maximum of P5 million.  As of 31 August 2022, the Bank has released a total of P8.1 billion in loans to over 35,500 borrowers under the ACEF Lending Program.   LANDBANK also implements the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), which aims to help increase the productivity, efficiency and profitability of rice farmers and their cooperatives. Eligible program borrowers may avail of up to 90% of their total project cost.  Since the implementation of ERCA-RCEF in 2019, a total of P1.7 billion in loans has been released to more than 5,700 borrowers, including 46 cooperatives and associations that assisted over 18,300 farmers and fishers.  In support of the development of the country’s sugar industry, LANDBANK is also implementing the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA). This facility is made available to individual sugarcane farmers, cooperatives, associations and common service centers, to finance up to 90% of their total project cost or financing requirement.  As of end-August 2022, the Bank’s loan releases under SCP-SIDA amounted to P612.3 million for 2,651 borrowers, benefiting over 6,700 sugarcane farmers.  The next run of the AgriSenso Virtual Forum will be held on 26 September 2022 to discuss other lending programs designed for small farmers and fishers, and agrarian reform beneficiaries (ARBs).

LANDBANK assures available climate finance for adaptation, mitigation

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.

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LANDBANK deploys Mobile ATMs in typhoon-hit Nueva Ecija

(Lower photo courtesy of the Philippine Air Force) NUEVA ECIJA – The Land Bank of the Philippines (LANDBANK) deployed two (2) mobile automated teller machines (ATMs) in the Municipalities of Sta. Rosa and Cuyapo to respond to the emergency banking needs of residents, following the damage and disruption caused by the recent super typhoon “Karding.” A LANDBANK Mobile ATM was deployed to the Municipal Hall of Sta. Rosa on September 29, 2022, to serve the urgent cash requirements of locals in the area.  Meanwhile, another Mobile ATM was stationed at the Municipal Hall of Cuyapo the following day, September 30, 2022, in time for the payroll date of municipal employees and other LANDBANK customers.  The LANDBANK Mobile ATMs are designed to be deployed in areas with disrupted or limited access to banking services due to disasters or calamities, in line with LANDBANK’s commitment to provide unhampered banking services.  As of 03 October 2022, LANDBANK operates a total of 20 Mobile ATMs nationwide.

LANDBANK, UNICEF join hands to extend pre-disaster aid

LANDBANK President and CEO Cecilia C. Borromeo (3rd from right) and UNICEF Philippines Representative Oyunsaikhan Dendevnorov (4th from right) sign a banking services agreement on 06 October 2022, for the pilot run of the United Nations Central Emergency Response Fund (CERF) for Anticipatory Action. They are joined by UNICEF Deputy Representative for Programs Behzad Noubary (leftmost) and Deputy Representative for Operations Thomas Meyerer (5th from right), and LANDBANK Senior Vice President Marilou L. Villafranca (2nd from right) and Assistant Vice President Domingo Conrado G. Galsim (rightmost). The Land Bank of the Philippines (LANDBANK) and the United Nations Children’s Fund (UNICEF) signed a partnership agreement to ensure the smooth and speedy  disbursement of pre-disaster financial aid to some 22,000 families in typhoon-prone towns.  LANDBANK President and CEO Cecilia C. Borromeo and UNICEF Philippines Representative Oyunsaikhan Dendevnorov led the ceremonial signing for a banking services agreement for the pilot run of the United Nations Central Emergency Response Fund (CERF) for Anticipatory Action on 06 October 2022 at the UNICEF Philippines Office in Mandaluyong City.  They were joined by UNICEF Deputy Representative for Programs Behzad Noubary and Deputy Representative for Operations Thomas Meyerer, alongside LANDBANK Senior Vice President Marilou L. Villafranca, and Assistant Vice Presidents Domingo Conrado G. Galsim and Renato R. Aquino. Under the agreement, LANDBANK shall open an account on behalf of UNICEF for deposit and maintenance of funds among various banking services, including the crediting of multi-purpose cash transfers to the LANDBANK Prepaid Cards of identified Conditional Cash Transfer (CCT) Program beneficiaries. “LANDBANK brings to the table our expertise as the distribution arm of the National Government’s social protection programs. This includes our extensive experience of delivering cash grants to the target sectors under the CCT and UCT (Unconditional Cash Transfer) programs covering 10 million beneficiaries nationwide,” said LANDBANK President and CEO Borromeo.  UNICEF Philippines Representative Dendevnorov said that the anticipatory approach reduces the costs of humanitarian response and allows affected populations to make informed decisions ahead of a humanitarian crisis. “In this context, we can say that cash transfers provided through Financial Service Providers (FSPs) like LANDBANK can improve the speed, efficacy and security of humanitarian aid delivery,” said UNICEF Philippines Representative Dendevnorov. Target beneficiaries under the pilot CERF for Anticipatory Action include families residing in the municipalities of Baras, Bato, San Andres and Virac in Catanduanes, as well as the municipalities of Catarman, Catubig, Gamay, Mondragon, and San Roque in Northern Samar. The cash assistance worth P1,000 for each CCT beneficiary will be disbursed via LANDBANK Prepaid Cards, three days before the expected landfall of a Category 4 or 5 typhoon. Beneficiaries can use the prepaid cards to withdraw cash assistance from LANDBANK automated teller machines (ATMs) and Agent Banking Partners, and make cashless purchases in groceries and drugstores via point-of-sale (POS) terminals. LANDBANK recently upgraded the existing prepaid cards of the CCT beneficiaries into transaction accounts with expanded features to provide more convenient banking services, including cash card loading via LANDBANK branches, fund transfers through the LANDBANK Mobile Banking App, and cash-in via LANDBANK Cash Deposit Machines.