THE Land Bank of the Philippines released some P4.8-billion worth of loans for the Food Supply Chain Program, benefiting more farmers and fisherfolk cooperatives and organizations nationwide.
Gilda Pico, LandBank president and chief executive, said the lender has financed 75 projects involving 75 anchor firms and 288 cooperatives, farmer organizations and non-government organizations with whom it has signed Production, Technical and Marketing Agreements since October last year.
Financed projects include integrated corn production and hog fattening; oil palm production and processing; fruits and vegetable production and processing; rice and corn production, processing and trading; cardava banana production and processing; fish production and processing; onion production, cold storage and marketing; and sugarcane production and milling.
The program is designed to provide credit assistance to key players in the food system such as agricultural producers, service providers, processors and various market players; market linkages between agricultural producers and processors; and capacity building support to strengthen farmers’ organizations and enable them to meet product requirements of anchor firms.
Anchors firms, on the other hand, are expected to buy the produce of the participating cooperatives and farmers organizations, and provide technical assistance to improve productivity and product quality.
