Farmers in Bohol receive P54-M worth of farm machinery from LANDBANK
As much as 142 farmers from Bohol received farm machinery from Land Bank of the Philippines (LANDBANK) as part of the firm’s effort to help modernize agriculture in the countryside.
A statement showed that LANDBANK has recently turned over farm machinery amounting to P54.86 million to farmer-beneficiaries in Pilar, Bohol.
To be specific, a total of 142 farmers, Agrarian Reform Beneficiaries (ARBs), and members of Irrigators’ Associations (IA) and cooperatives attended the event.
In total, they received 41 4WD Tractors, seven Kubota Rice Combine Harvesters and 10 Kubota Rice Transplanters under LANDBANK’s Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program and the Agri-Mechanization Financing Program.
As of June 30, 2019, the combined loans extended to the agriculture sector and the Bank’s other mandated sectors reached P219.63 billion, which is 27.45 percent of LANDBANK’s total loans to all sectors of P799.64 billion.