Landbank bags two international awards

MANILA, Philippines — Government-owned Land Bank of the Philippines recently bagged two international awards for its development projects on climate financing and digital account opening system.

In a statement, Landbank president and chief executive officer Cecilia Borromeo said the bank’s Green Climate Fund (GCF) program was adjudged as the winner under the Environment Development category of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards 2020.

Its Digital Onboarding System (DOBS) was also bestowed with a Merit Award under the Technology Development category.

“We at Landbank always strive to go the extra mile in fulfilling our mission of delivering timely and responsive financial support services to our clients, while promoting sustainable development and environmental protection. This recognition inspires us to constantly do more and work harder,” Borromeo said.

Landbank’s GCF Program is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement.

The program aims to help developing countries limit or reduce greenhouse gas emissions and adapt to climate change by supporting programs and projects that promote the shift to low-emission and climate-resilient development.

Landbank is the first and only direct access entity (DAE) to the GCF in the country, and one of 76 worldwide. As a DAE, it is tasked to oversee, manage, monitor, and channel financing to GCF-approved projects in the Philippines.