Land Bank Offers Credit Loan to Pinoy Farmers

Land Bank of the Philippines (LBP) has released a total of P401 million in credit assistance to small farmers engaged in palay production as of the third quarter of this year.

LandBank regional head Khurshid Kalabud said the loan release was in line with the bank’s Rice Productivity Program to support the national government’s thrust to achieve food sufficiency in the country.

Kalabud said the loan was channeled through various conduits such as cooperatives, countryside financial institutions, farmers organizations, small and medium enterprises and irrigation operators’ associations.

He said the loan benefited a total of 3,356 small farmers in various barangays in Zamboanga City, Zamboanga Peninsula and Misamis Occidental covering 13,757 hectares.

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