In pursuit of its mandate to support the country’s agriculture sector, the Land Bank of the Philippines (LANDBANK), in partnership with the Department of Agriculture (DA), continues to provide affordable financial assistance to farmers and fishers, as well as their cooperatives and associations, to help increase their productivity and profitability. Under the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, the Bank has released a total of P2.5 billion in loans to 19,367 eligible borrowers as of June 30, 2020. Of the total borrowers, 19,189 are Small Farmers and Fishers (SFFs), 119 are micro and small enterprises (MSEs), and 59 are farmers and fisherfolk cooperatives/associations. Direct lending under the ACEF Lending Program has been made available to eligible borrowers at an affordable interest rate of 2% per annum.

Landbank releases P3.02B in loans to help farmers and fishers boost productivity. (2020, July 15). Daily Guardian, pp. 7, 10.