State-owned Land Bank of the Philippines is extending P1 billion in loans to farmers, fisherfolk and small enterprises as it pushes for improved financial inclusion. Landbank announced a new loan facility called Empowering Barangays in Remote Areas through Credit and Enterprise that will address financing needs of around 1.2 million farmers, fishers, micro and small enterprises in unserved areas nationwide. According to the state-run bank, the program has more relaxed features and requirements and lower interest rates for farmers to engage in eligible projects like an agricultural crop, livestock, fishery production, agri-enterprise and other livelihood activities.

Simeon, L. M. (2016, September 2). Landbank extends P1-B loan to small farmers, fisherfolk. Philippine Star, pp. B-9, B-10.