The Land Bank of the Philippines’ total loans to its priority sectors in Region 11 reached P7.38 billion as of September 30, 2011. Of the P7.38 billion, 25 percent or P1.83 billion went to farmers and fisherfolk cooperatives, irrigators’ associations, farmers’ organizations and rural banks, benefiting 24,071 newly-assisted farmers and fisherfolk.
The priority sectors of Landbank include small farmers and fisherfolk cooperatives, microenterprises and SMEs, livelihood, agri-business, agri-infrastructure projects of local government units, agri- and environment-related projects, socialized housing, schools and hospitals.
The top five cooperative borrowers in Southern Mindanao are the USPD Multi-Purpose Cooperative in San Jose, Digos City; Hijo Agrarian Reform Beneficiaries Cooperative (HARBCO) in Tagum; Hijo Employees Agrarian Reform Beneficiaries Cooperative (HEARBCO) I in Tagum; SCI Development Cooperative in Tandag; and Bansalan Cooperative Society in Bansalan, Davao del Sur.
Meanwhile, total loans to SMEs in the region reached P559 million. Loans to countryside financial institutions was recorded at P604 million while loans to LGUs grew to P4.82 billion from P4.7 billion of the same period last year.
Landbank also released P331 million for palay production as of end-September 2011 through cooperatives, irrigators’ associations, farmers’ organizations, and rice millers.
“Our sustained efforts to deliver credit assistance to our development partners particularly the small farmers and fisherfolk cooperatives, micro enterprises and SMEs in Region 11 is in line with Landbank’s overall commitment to promote growth in the countryside”, said Region 11 head and vice president Camilo C. Leyba.
