LANDBANK agri loans jump 14.8% to P271.8-B as of Q1 2023

The Land Bank of the Philippines (LANDBANK) continues to firm up its support to the agriculture sector, with outstanding loans reaching P271.8 billion as of 31 March 2023 – a 14.8% year-on-year growth from P236.8 billion in the same period in 2022.

Of the Bank’s agri loans, P42.3 billion directly benefitted small farmers and fishers, including those which were channeled through cooperatives and farmers’ associations, rural financial institutions and other conduits.

“LANDBANK contin - ues to provide accessible financing for small farmers and fishers, as well as the whole agri-value chain. We are fully committed to supporting the National Government’s efforts to ensure food security towards advancing growth that is sustainable and inclusive,” said LANDBANK President and CEO Cecilia Cayosa Borromeo.

As support to other agri-value chain players, LANDBANK extended P181.2 billion to finance the requirements of small, medium and large agribusinesses.

The remaining P48.3 billion in loans backed agri- and aqua-related projects of local government units (LGUs) and governmentowned and controlled corporations (GOCCs).

In terms of economic activities, P64.5 billion of the agri loans were channeled to boost livestock and crop production, while P120 billion accounted for loans for agri-processing and trading.

Meanwhile, P87.3 billion supported the construction and improvement of essential agri infrastructures such as public markets, farm-tomarket roads, warehouses, cold storages, and irrigation systems, among others.