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Manila Bulletin devider Business devider LANDBANK lends P237.62B to agri sector in 2020

LANDBANK lends P237.62B to agri sector in 2020

Published Jan 29, 2021 12:22 pm

The Land Bank of the Philippines’ (LANDBANK) agricultural loans grew from P236.31 billion in 2019 to P237.62 billion in 2020, more than half of which were given to small, medium, and large agribusinesses.

Of the P237.62 billion total outstanding loans, small, medium, and large agribusiness enterprises were granted P142.75 billion, while P50.89 billion was channeled to support agri-aqua related projects of local government units (LGUs) and government-owned and controlled corporations (GOCCs).


Meanwhile, P43.98 billion went to small farmers and fishers, cooperatives and farmers’ associations, rural financial institutions, and other conduits.

To be specific, LANDBANK assisted a total of 2.67 million farmers and fishers nationwide as of end-2020, which translates to a 133.5-percent accomplishment rate over the bank’s full-year target of two million.

“The year 2020 was undoubtedly a challenging one, but LANDBANK remained steadfast in its commitment of delivering intensified support to the country’s agriculture sector,” said LANDBANK President and CEO Cecilia C. Borromeo.

“We will continue to address the specific requirements of more farmers, fishers, and other players in the local agribusiness value chain amid the pandemic and beyond,” she added. 

LANDBANK assisted farmers and fishers through its regular loan offerings and lending programs jointly implemented with the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR).

As of December 31, 2020, LANDBANK has released a total of P8.36 billion under the programs it has been administering for DA, which include the Agricultural Competitiveness Enhancement Fund (ACEF), the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA), the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF), and the Survival and Recovery Assistance Program for Rice Farmers (SURE Aid).

Under DAR’s Credit Assistance Program for Program Beneficiaries Development (CAP-PBD), the Bank’s cumulative loan releases reached P600 million as of end-December 2020.

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Land Bank of the Philippines LandBank Agricultural Loans
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