Land Bank lends agri firms, farmers P4.8 B

MANILA, Philippines—The Land Bank of the Philippines announced Tuesday it has lent farmers and agricultural companies a total of P4.8 billion for food production since its Food Supply Chain Program got under way in October 2010.

The bank said it has financed 75 projects involving  75  anchor firms and 288 cooperatives, farmer organizations and nongovernment organizations with  whom  it  has  signed  production, technical  and  marketing agreements.

The projects include  integrated corn production and hog fattening; oil palm  production  and  processing;  fruits  and  vegetable  production  and processing;  rice  and  corn  production,  processing  and trading; banana  production  and  processing;  fish production and processing; onion production,  cold  storage  and marketing;  and  sugarcane  production and milling.