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MANILA: State-run Land Bank of the Philippines (LandBank) recently inaugurated agri-hubs in Oriental Mindoro and Misamis Occidental, as part of the bank’s efforts to boost rice production and economic activities in these provinces.
In a statement on Friday, LandBank said the agri-hub in Bongabong, Oriental Mindoro was launched on March 8, while the agri-hub in Plaridel, Occidental Mindoro was inaugurated on Feb. 16.
The bank has been establishing agri-hubs in the country’s top rice-producing provinces to bring various financial services under one roof.
These include banking services such as account opening, withdrawals and check encashment, lending services such as the processing of loan applications and agrarian services such as the processing of Agrarian Reform bonds, and handling of agrarian-related concerns.
The Bongabong Agri-Hub located in Poblacion, Bongabong in Oriental Mindoro, brings financial services closer to the 36 barangays of the town and three nearby barangays of the municipality of Bansu
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It is expected to benefit over 12,200 farmers and fishers; 5,300 Department of Social Welfare and Development beneficiaries, local government workers and private clients, who no longer need to travel to LandBank branches and lending center in Pinamalayan, Roxas and Calapan City, respectively, for 30 minutes to two hours.
The Plaridel Agri-Hub in Barangay Panalsalan, Plaridel in Misamis Occidental, meanwhile, will service the 61 combined barangays of the municipalities of Plaridel and Lopez Jaena, including over 23,000 farmers and fishers.
‘The strategic presence of LandBank agri-hubs in the country’s top rice-producing provinces ensures that we meet the developing needs of rice farmers and other agricultural players. We aim to make financial services more accessible and contribute to boosting domestic rice production,’ LandBank president and chief executive officer Lynette Ortiz said.
Source: Philippines News Agency
