Landbank’s loans to its priority sectors reached P82.7 billion as of September 2007 or P3.7 billion more than the P79 billion registered in the same period last year.
Of this amount, P16 billion was extended to the farmers and fisherfolk sector while P19.1 billion went to the country’s SMEs and microenterprises. Loans for agri-infrastructure projects of local government units rose by 23 percent to P16.5 billion as of September 2007, from P13.5 billion last year.
The Bank’s priority sectors include the small farmers and fisherfolk, microenterprises and SMEs, livelihood, agribusiness, agri-infrastructure projects of LGUs, agri-and environment-related projects.
Landbank president and CEO Gilda E. Pico reported that a cumulative 2.5 million farmers and fisherfolk nationwide benefited from Landbank’s loans as of September 2007, while 13,300 SMEs engaged in various industries including agro-processing, trading, manufacturing and services likewise benefited from the Bank’s credit assistance.
Total loans for livelihood, agriinfrastructure projects of LGUs, agribusiness and environmentrelated projects meanwhile amounted to P31.1 billion.
Pico added that the loans extended to the Bank’s priority sectors represent 69 percent of its total loan portfolio of P119.2 billion. "This reflects Landbank’s continuing commitment to channel its support to sectors that promote economic growth especially in the rural areas. We consider these sectors as major partners in promoting countryside development," she added.
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