The Land Bank of the Philippines (LBP) has released P335.688 million to small farmers and fisherfolks in Central Visayas from January to March this year.
The said amount is part of the P3.5 billion loan released to small farmers and fisherfolks. To recall, LBP was reported to have released the amount to the marginalized sectors of the country.
According to Romy Tagupa, LBP Branches Operations Technical Supervisor, those who benefited from the said amount were 10,585 farmers from Cebu (1372), Bohol (9087), and Negros Oriental (126).
Meanwhile, 297 fisherfolks in the region availed of the loan. Eight of the fisherfolks are from Cebu and 289 are from Bohol. No fisherfolk from Siquijor and Negros Oriental availed of the loan facility.
The farmers' total borrowings in LBP reached up to P319.2 million while the fisherfolks borrowings amounted to P15.8 million availed by 297 beneficiaries.
Tagupa also shared that for this year, LBP has P9 billion loan portfolio for small farmers and fisherfolks. As regularly done, the amount will be coursed through a conduit like a cooperative, rural bank, or through Quedancor -- a government financial institution.
In Central Visayas, LBP has 14 branches, 4 extension offices, and a lending center in Cebu, Bohol, and Negros Oriental.
To keep up with the pace of technology and trends in the banking industry, Tagupa said that LBP Pres. Margarito B. Teves is now bent on improving the bank’s Information Technology (IT) facilities and manpower.
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