Sun, 08 Dec 2019

Land Bank to be more accessible to small farmers and fisher folks

Philippine Information Agency
12 Aug 2019, 22:38 GMT+10

DAVAO CITY, (PIA) - During his 4th State of the Nation Address (SONA), President Rodrigo Roa-Duterte urged the Land Bank of the Philippines (LBP) to reconfigure their efforts to be more accessible to small farmers, fisher folks and cooperatives who require financial assistance.

LBP Director and CEO Cecilia C. Borromeo personally visited the Biao Agrarian Reform Beneficiaries Cooperative (BARBCO) last Aug. 1, to confirm if there is anything that the said bank can do to help the cooperative.

"The members of the BARBCO cooperative should be idolized by other similar agri-cooperatives in the country," Borromeo said during her discussion of the achievements of BARBCO through the years.

As of July 31, this year, LBP has already submitted its plans that involve measures to ensure more accessible loan programs for small farmers and fisher folk. Said programs, if approved by President Duterte, will grant loan programs with lower interest rates.

"We will intensify our lending to them [small farmers and fisherfolks] and we will allot more resources of Land Bank for the direct lending to farmers and fishers at lower interest rates," Borromeo said.

As for the processes in place to make the loan process smoother to the less-advantaged members of the developing agri-sector, Land Bank annually runs-through their processes to form a client-friendly experience.

"We review our processes and make it more friendly to the customer every year and this is a year as good as any to again review and see how we can make the delivery of the financial service faster, friendlier, easier and more cost-efficient for everyone - including Land Bank," Borromeo added. (PIA-XI/Kevin Paolo Caro)

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