Landbank delivers P2.65-B cash aid to rice farmers

THE Land Bank of the Philippines (Landbank), in partnership with the Department of

Agriculture (DA), has distributed a total of P2.649 billion to 529,816 rice farmerbeneficiaries affected by the Covid-19 pandemic across 26 provinces, under the DA’s Financial Subsidy to Rice Farmers (FSRF) Program.

As of July 1, 2020, a total of 61,928 rice farmers claimed their cash benefits through their existing Landbank ATM Cash Cards while 467,888 farmers received their financial assistance in designated pay-out sites nationwide.

Through the FSRF Program, small rice farmers tilling farms with an area of one hectare or less received P5,000 each to supplement their production budget and

family income.

“In partnership with the Department of Agriculture led by Secretary William Dar,

Landbank continues to deliver much-needed financial aid to small palay farmers

nationwide during these difficult times.

This is in fulfillment of our expanded mandate to support our priority sector — the agriculture sector — recover from the challenges of Covid-19 as soon as possible,” Landbank President and CEO Cecilia C. Borromeo said.

Aside from the delivery of cash aid, Landbank has also provided 29,728 agrarian

reform beneficiaries a one-year moratorium on amortizations with due dates falling

during the previous Enhance Community

Quarantine (ECQ) period. This covered 41,837

hectares of agricultural land amounting to a total of P1.56 billion in dues.

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