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Land Bank of the Philippines Loan
« on: May 20, 2010, 02:56:11 PM »
Rural folks continue to benefit from the higher loan portfolio of the Land Bank of ]the Philippines (Landbank) as it grew by 5.6 percent year-on-year in the first quarter of 2010.

Landbank President Gilda Pico, in a briefing, said their loan portfolio rose by P10.3 billion to P193.9 billion in the first three months of 2010 from the P183.6 billion same period last year.

She explained that their priority sectors had a share of 67.5 percent amounting to P130.9 billion of the whole pie.

Landbank’s priority sectors include small farmers and fisherfolk, microenterprises and small and medium enterprises (SMEs), livelihood, agri-business, agri-infrastructure, socialized housing, schools and hospitals, and other agri- and environment-related projects.

In particular, loans extended to the agri-infrastructure projects of local government units (LGUs) had the largest share at P27.9 billion or 14 percent of the total and was followed by funding extended to agri-related projects of government-owned and controlled corporation (GOCCs) at P25.7 or 13 percent.

Loans extended to agri-business and microenterprises and SMEs both had 10 percent share although the amount varied at P20.1 billion and P19.1 billion, respectively.

While loans used for socialized housing, schools and hospitals totaled to P12.7 billion.

Pico said total loans to small farmers and fisherfolk reached P16.9 billion in the first three months this year while those extended to environmental-related projects to P4.4 billion and to livelihood projects to P4.1 billion.  - pna

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