LandBank welcomes revisions to Agri-Agra

posted May 16, 2021 at 06:25 pm
by  Othel V. Campos
The Land Bank of the Philippines fully supports a Senate initiative to amend the provisions of Republic Act. No. 10000, or the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), which will provide farmers and fishers nationwide an expanded and easier access to responsive financing.

During a public hearing on the proposed Agri-Agra Law amendments on May 12, 2021, the state-owned bank welcomed recommendations from legislators to revisit its loan application requirements, specifically for small farmers and fishers, to make it easier for them to access financing.

In 2019, prior to the ongoing Agri-Agra law revisit, LandBank started simplifying its loan processes to make its programs more accessible to small farmers and fishers.

LandBank has also consistently complied with the Agri-Agra Law, which requires all banking institutions to allot 15 percent of their total lending portfolio for agriculture loans and 10 percent for agrarian reform credit. 

Topics: Land Bank of the Philippines , Agri-Agra Law
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