PH’s state bank so far distributes P993-M to rice farmers amid COVID-19 pandemic
The Land Bank of the Philippines (LANDBANK), in partnership with the Department of Agriculture (DA), had so far delivered as much as P993.15-million one-time cash assistance to rice farmers amid the COVID-19 pandemic.
The one-time financial assistance of P5,000 each is granted to rice farmers tilling farms with areas of 0.5 to two hectares under the DA’s Rice Farmer Financial Assistance (RFFA) program, and those tilling farms one hectare or less, under the DA’s Financial Subsidy to Rice Farmers (FSRF) initiative.
RFFA is DA’s one-time cash assistance to support farmers amid the COVID-19 pandemic, while FSRF is supposed to ease their suffering brought about by the influx of imported rice last year.
As of now, 198,630 farmer-beneficiaries already benefited from two programs, according to LANDBANK.
To be specific, a total of 107,463 RFFA and 91,167 FSRF farmer-beneficiaries received their cash grants amounting to P537.315 million for RFFA and P455.835 million for FSRF.
The distribution of cash assistance under the RFFA and FSRF is expected to continue until June.