Land bank of the Philippines (LAND BANK) turned over P54.86-million worth of farm equipment to Bohol farmers during the Farmers’ Caravan event in Pilar, Bohol.
As cited in the report of Business World, 142 farmers consist of agrarian reform beneficiaries (ARB) and members of irrigators’ associations and cooperatives attended the program.
“Moreover, 41 four-wheel drive (4WD) tractors, 7 Kubota Rice Combine Harvesters and 10 Kubota Rice transplanters, which were given to beneficiaries under LANDBANK’s Agricultural Competitiveness Enhancement Fund (ACEF) program and the Agri-Mechanization Financing Program,” mentioned in the report.
The said event was conducted in partnership of various government agencies: Department of Agriculture (DA), Department of Agrarian Reform (DAR); National Irrigation Administration (NIA); as well as the Agricultural Training Institute (ATI); National Food Authority (NFA); and the Philippine Crop Insurance Corp. (PCIC).
Interestingly, LANDBANK also offers lending programs to the farmers in Bohol namely, ACEF, Sikat Saka Program and the Accessible Funds for Delivery to ARBs (AFFORD-ARB) Program.
“As of June 30, 2019, the combined loans extended to the agriculture sector and the Bank’s other mandated sectors reached P219.63 billion, which is 27.45% of LANDBANK’s total loans to all sectors of P799.64 billion,” LANDBANK said in the report.