The Land Bank of the Philippines (LANDBANK) has joined the Department of Agriculture (DA) in the distribution of cash grants to Nueva Ecija rice farmers under the Rice Competitiveness Enhancement Fund-Rice Farmer Financial Assistance (RCEF-RFFA).
The RCEF-RFFA program aims to provide unconditional cash assistance to registered rice farmers with landholdings of two hectares and below, in line with the implementation of the Rice Tariffication Law (RTL).
According to LANDBANK, 41,811 rice farmers in Nueva Ecija are eligible to receive cash assistance of P5,000 under the RCEF-RFFA program. So far, 238 farmer-beneficiaries already received their share.
LANDBANK will facilitate the crediting of cash grants to the existing LANDBANK cash cards of farmer-beneficiaries, as well as to the Interventions Monitoring Card (IMC) currently being developed in partnership with DA that will serve as both an identification and cash card.
Agriculture Secretary William D. Dar and Nueva Ecija 3rd District Representative Rosanna V. Vergara led the ceremonial distribution event last week, alongside DA Assistant Secretary for Operations Arnel V. De Mesa, DA Regional Director for Region III Crispulo G. Bautista, Jr., and LANDBANK Central Luzon Branches Group Head, Senior Vice President Sylvia C. Lim.
LANDBANK also serves as the disbursing agent for the DA’s RFFA and Financial Subsidy to Rice Farmers (FSRF) programs, with combined releases amounting to P4.08 billion that benefitted 816,373 farmers nationwide.
“The state-run bank continues to work closely with the DA in serving the country’s agriculture sector through intensified and timely support interventions, which includes the immediate delivery of cash grants to farmer-beneficiaries,” LANDBANK said.