State-run Land Bank of the Philippines has joined forces with agritech startup SariSuki to improve the agricultural supply chain.
Through Landbank’s AgriSenso Lending Program, the partnership aims to empower over 300 small farmers and Agrarian Reform Beneficiaries (ARBs) by providing accessible financing, technical guidance, and a reliable market for their produce.
Landbank President Lynette V. Ortiz called the partnership with SariSuki a strategic effort to support small farmers and boost crop production through shared resources and expertise.
“Through the combined networks, expertise, and resources of SariSuki and Landbank, we can effectively meet the financial needs of our farmers while providing crucial production, technical, and marketing assistance to enhance their productivity and income," she said.
SariSuki, a three-year-old agritech startup, will be the main buyer of farmers' produce as part of its goal to create a streamlined agricultural supply chain.
Brian Cu, SariSuki Co-founder and CEO, said the partnership with Landbank will help farmers by offering a stable market and support in farming and business, aiming to improve their livelihoods and food security.
Landbank, the country’s largest development financial institution, will offer its AgriSenso to eligible SariSuki partners, providing affordable financing to small farmers and ARBs.
“A key element of this partnership is SariSuki's commitment to directly pay the principal of farmers' loans to LANDBANK, allowing farmers to immediately profit from their earnings, providing financial relief, and encouraging reinvestment in their farms.” Landbank said in a statement.
The collaboration aims to reduce fresh produce costs by integrating SariSuki’s supply chain with local farmers and expanding its network through Lanbank’s lending centers in key agricultural regions.
Since launching the AgriSeno Lending Program, Lanbank has approved P272 million in loans for over 1,766 borrowers nationwide.
The lending program is now available through Lanbank’s “Bilis Ipon: Digital Financial Inclusion Caravan,” reaching farmers in 17 underserved areas, including Himamaylan City.
Landbank said it is working with SariSuki to create an integrated system of financial support, market access, and technical assistance to boost farmers and advance the agricultural sector. (Derco Rosal)