Landbank lends P4.8B to food chain scheme

MANILA, Philippines -  Loan releases by the Land Bank of the Philippines (Landbank) for the Food Supply Chain Program has reached P4.8 billion as of September 2011.

Since the FSC program was launched in October 2010, Landbank has financed 75 projects involving 75 anchor firms and 288 cooperatives, farmer organizations and non-government organizations (NGOs) with whom Landbank has signed production, technical and marketing agreements.

Financed projects include integrated corn production and hog fattening; oil palm production and processing; fruits and vegetable production and processing; rice and corn production, processing and trading; cardava banana production and processing; fish production and processing; onion production, cold storage and marketing; and sugarcane production and milling.

According to president and chief executive officer Gilda E. Pico, “Landbank remains focused on supporting the National Government’s thrust towards promoting food security and increasing agricultural productivity.”

Pico said the FSC program is a fitting platform to provide financial and technical support along the value-added chain of a commodity and help increase the income of small farmers, fisherfolk, and small and medium enterprise (SME) producers.

Furthermore, Pico said, the FSC program is designed to provide credit assistance to key players in the food system such as agricultural producers, service providers, processors and various market players; market linkages between agricultural producers and processors; and capacity building support to strengthen farmers’ organizations and enable them to meet product requirements of anchor firms, she added.