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PIA Press Release
2010/05/05

LBP provides financial, technical support to famers and fisherfolk

by Oliver T. Baccay

Tuguegarao City (5 May) -- The Landbank of the Philippines has committed to help poverty alleviation amidst effect of El Nino phenomenon for farmers an fisherfolk of region 2.

Ms. Ruth Jugueta, Head-Development assistance Division, said the have opened their services for farmers and fishersfolk who want to avail their financial and technical services offerings.

During President Gloria Macapagal-Arroyo?s visit in the provinces of Isabela and Cagayan, she announced the LBP is set to grant loans for El Nino affected families of farmers and fisherfolk in the region.

Jugueta said there are many farmer cooperatives who filed their applications for grant of loans to establish their own small time businesses and livelihood as means to cushion the impact of dry spell.

Aside from this, Mr. Ramon Badiola, Technical Assistant- LBP Regional Office, said they are also assisting farmers and fisherfolk by delivering innovative products and services that are in consonance with ecological enhancement and effectively address their clients? needs.

He said they are open to any barrower who wants to have seed money to establish their facilities, enhance their farm lands, buy seeds, fertilizers, rehabilitate irrigation canal and any other related projects.

"LBP is committed to improve the lives of all its stakeholders and work with them to lead the country for economic development", Badiola said.

As of this date, some barrowers haven?t paid yet their obligations yet because of the effect of El Nino and the series of typhoons happened in the past which are according to LBP a "valid reason" that accepted. (PIA 2) [top]

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