Connect with us

Hi, what are you looking for?


LANDBANK’s agricultural loans hit P232 billion

LAND BANK of the Philippines (LANDBANK) lent P231.47 billion to nearly 2.6 million farmers, fisherfolk and agribusiness owners in the first 11 months of 2020, the Department of Finance (DoF) said.

Citing a report from the bank, the DoF said in statement on Monday that the total was equivalent to 94.5% of LANDBANK’s full-year agriculture lending target of P245 billion.

Around 2.588 million farmers and fisherfolk were able to obtain loans during the period, higher than the state-run bank’s goal to cover two million borrowers in 2020.

Broken down, two-thirds or P144.13 billion of the loans went to small, medium and large agribusinesses; 21.7% or P50.16 billion were obtained by local government units and state-owned companies for their agri-aqua related projects; and 16% or P37.38 billion went to small scale farmers and fisherfolk. 

Farmers and fisherfolk mostly used conduits such as cooperatives and associations, rural lenders and other lending schemes to borrow, LANDBANK said, as loans coursed through these channels totalled P36.04 billion, while direct lending only amounted to P1.34 billion.

As one the government’s main partners in implementing social programs, the bank processed P8.31 billion worth of loans for the programs of the Agriculture department such as the Agricultural Competitiveness Enhancement Fund, the Socialized Credit Program under the Sugarcane Industry Development Act, the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund, and the Survival and Recovery Assistance for rice farmers.

Programs by the Department of Agrarian Reform administered by LANDBANK translated to P65 million in loans.

In terms of economic activity, 45% of the total loans granted in those 11 months went to building irrigation systems and post-harvest facilities with a combined value of P104.19 billion.

Meanwhile, around 30% or P71.5 billion funded agri-processing and trading activities, 16% or P36.69 billion for livestock, eight percent or P17.59 billion for crops, and less than one percent or P1.67 billion for the fisheries sub-sector. — BML

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



By Jenina P. Ibañez, Senior Reporter PHILIPPINE MANUFACTURING activity rose to an eight-month high in November, as new orders increased for the first time...


THE NATIONAL Government’s outstanding debt swelled to P11.97 trillion as of the end of October as it offered more domestic securities, preliminary data from...


MOTORISTS experience heavy traffic along Commonwealth in Quezon City on Wednesday. — PHILIPPINE STAR/ MICHAEL VARCAS BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E....


THE SENATE on Wednesday approved on third and final reading the proposed P5.024-trillion national budget for 2022. Senators unanimously passed the 2022 General Appropriations...


EVERYTHING’s coming full circle from the boy from Cebu who wanted to write but ended up cooking. Myke “Tatung” Sarthou, celebrity chef, started out...


1 of 6 THE VIRTUS awards by the Hotel Sales and Marketing Association (HSMA) Philippines continues to honor professionals and institutions in hospitality: a...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.