Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Tuesday, 15 October 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << October 2019 >> 
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31
Special News Editions:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

Farmers, fisherfolk avail of LBP loans

by Jemin B. Guillermo

Roxas City (25 February) -- Nearly half a million farmers and fisherfolk in the country have benefited from the government bank's credit assistance last year.

In a press release, Land Bank of the Philippines President and Chief Executive Officer Gilda Pico disclosed that a total of 438,000 small farmers and fisherfolk nationwide have availed of the said bank's credit assistance in 2008.

Pico said that a total of P23.5 billion in loans was released by LandBank to their clienteles last year through 1,052 cooperatives and 400 countryside financial institutions.

She also said that the amount released was 29 percent higher than the P18.2 billion released to said sector in 2007.

"Our intensified lending to the farming and fisheries sector is aimed at further strengthening and sustaining their viability to accelerate the development of economies in rural communities," Pico said.

She revealed that by agricultural activity, LANDBANK loans for crop production grew by P3.8 billion to P10.2 billion last year from P6.4 billion in 2007.

Loans for palay production, she added, reached P9.3 billion involving 207,875 rice farmers assisted by the Bank in 2008.

Pico pointed out that said development came after the Bank expanded its lending to produce more rice and boost the supply of the staple crop in the country to help stabilize its price.

The LANDBANK's loans for agri-processing also increased by P972 million to P1.7 billion from P759 million, she said, adding that the Bank's loans for marketing increased by P274 million to P7.9 billion from P7.6 billion. (PIA) [top]

|«  prev  next  »|
»NSA Gonzales, bishops push for transparent poll automation
»Soldiers' kids get scholarship
»Only Davao Norte has ready ECCD sustainability fund - CWC
»Joey Ayala lauds Musikahan
»PGMA bares Davao baseport expansion marker
»Army's 10th ID in need of 250 new soldiers
»DTI to create more micro industries in Davao City
»Gov. Malanyaon leads inauguration of shelter units in Davao Oriental
»World-renowned Arnis guru visits Davao
»PGMA matches Pangasinan town's school board's outlay for school improvement projects
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines