The minority bloc in the House of Representatives will not oppose the planned merger of the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) as long as the former’s mandate to provide direct credit support to small farmers and fisherfolk is kept intact. “We must stress that Land Bank is duty bound to allocate at least 5 percent of its regular loan portfolio for socialized credit to agrarian reform beneficiaries, small farmers and fisherfolk,” House Minority Leader and 4Ps party-list Rep. Marcelino “Nonoy” Libanan said in a statement on Sunday.

House minority wants Land Bank mandate to help small farmers, fisherfolk kept intact in merger with DBP. (2023, April 10). DailyGuardian, pp. 1, 6.