In line with supporting the fisheries sector, Land Bank of the Philippines (Landbank) is offering a new credit facility to assist existing and prospective commercial fishing operators in acquiring fishing vessels for domestic or overseas use. Under the P2-billion Landbank Commercial Fishing Vessel Financing Program, eligible borrowers may loan up to 80 percent of the acquisition cost to purchase a brand-new, second-hand or refurbished commercial fishing boat and related equipment for their business. "Landbank remains steadfast in supporting the fisheries sector. We are looking to cover the requirements for fishing vessels to assist more fishers in boosting their production and profit, and contribute to ensuring food security in the country," Landbank president and CEO Cecilia C. Borromeo said.

LandBank casts P2-B credit line for fishing boat purchase. (2021, February 17). SunStar Pampanga, p. 6.