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Thursday, March 28, 2024

LandBank bares credit plan to modernize agri

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Land Bank of the Philippines, the fourth-largest lender in terms of assets, recently launched a new credit program to promote modern and sustainable farming in the country.

Bank president and chief executive Cecilia Borromeo said the program—called “Financing Program for Greenhouse Farming System”—seeks to support the financial needs of farmers, cooperatives and agri-entrepreneurs planning to shift to modern farming by adopting greenhouse farming technology.

Greenhouse technology allows farmers to grow off-season crops all year round in a climate-controlled environment. The technology also helps protect crops from extreme weather conditions, such as floods, droughts, super typhoons and rising temperatures brought about by global warming and climate change.

“We hope to enhance the viability, sustainability and competitiveness of high value crop production of our farmers by adopting greenhouse farming technology,” Borromeo said in a statement over the weekend.

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