BusinessWorld: The most trusted source of Philippine business news and analysis
LAND BANK of the Philippines said that it released loans worth P2.5 billion as of April 30 to rice farmers and cooperatives, with the loans backed by the Rice Competitiveness Enhancement Fund .The bank said that loans were issued to 15,400 individual rice farmers and 270 cooperatives with more than 21,300 members.
Loans were used to fund palay production, milling and trading, re-lending, and acquisition of farm machinery.The bulk of the borrowers were from the rice producing provinces of Cagayan, Nueva Vizcaya, and Quirino. Loads were also disbursed to farmers from Capiz, Leyte, Agusan del Sur, Bukidnon, North Cotabato, and Zamboanga del Sur.cer Lynette V. Ortiz said that the bank’s loans help “support to the agriculture sector is crucial in ensuring food security.”nancial assistance to our rice farmers to help them sustain their operations and improve productivity, especially in the face of challenges including El Niño,” Ms. Ortiz added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DA chief urges lawmakers to back RCEF extensionAgriculture Secretary Francisco Tiu Laurel Jr. has called on lawmakers to back the extension of the Rice Competitiveness Enhancement Fund (RCEF), a component of the Rice Tariffication Law (RTL) that is being revisited for possible amendments.
Read more »
Landbank says loans to rice farmers reach P2.5BLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
LandBank approves P2.68b worth of loans to OFWsDefining the News
Read more »
Energy dep’t warns Luzon grid may experience red alerts until next weekBusinessWorld: The most trusted source of Philippine business news and analysis
Read more »
Recto expects 150 bps of rate cuts in next 2 yearsBusinessWorld: The most trusted source of Philippine business news and analysis
Read more »
Web attacks on PHL companies more than tripleBusinessWorld: The most trusted source of Philippine business news and analysis
Read more »