The Land Bank of the Philippines (LandBank) disclosed last Tuesday its total loans to the agriculture sector last year rose by 5.5 percent to P261.7 billion from P247.9 billion in 2021. Know more:
THE Land Bank of the Philippines disclosed last Tuesday its total loans to the agriculture sector last year rose by 5.5 percent to P261.7 billion from P247.9 billion in 2021.
“We remain committed to delivering timely and accessible credit to boost economic activities in the countryside and the country’s overall food production,” Borromeo added. LandBank’s statement revealed that its livestock and crop production financing accounted for P66.5 billion of its total agricultural loans while P107.4 billion was channeled to agri-processing and trading.
“More than 766,000 or 22 percent of these came from the 20 poorest provinces in the country, further advancing its efforts to promote inclusive and sustainable development,” it added. LandBank said it is also intensifying its partnerships with the Department of Agriculture and the Department of Agrarian Reform to reach and serve more farmers and fisherfolk.
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