Land Bank of the Philippines (Landbank) committed to increase its exposure to agricultural credit to further enhance farmers’ development and productivity.
Agriculture Sec. William Dar told Bombo Radyo that Landbank’s current exposure is P9 billion covering only about one million farmers in the country.
According to Sec. Dar, during their presentation in the last Cabinet meeting, Landbank officials revealed their plan to increase agricultural credit up to P30 billion which aims to cover three million farmers.
Dar said, President Rodrigo Duterte approved the plan during the Cabinet meeting.
In the last State of the Nation Address (SONA), Duterte warned to abolish Landbank if it fails to fulfill its mandate for the farmers instead of acting like a commercial bank.
