THE government is serious in prioritizing agriculture in the country.

Supporting President Ferdinand Marcos Jr.‘s bid to help the sector, state-owned Philippines (Landbank) is eyeing to raise the number of small farmers and fishers it has assisted.

Landbank plans to lend funds to 3.6 million farmers this year.

It will continue to extend financing to various programs that will boost the country’s recovery, with the focus on the agriculture sector.

The bank is looking to support not only the small farmers but all the players of the agri-business value chain and.

Also targeted for assistance are the large agri-business corporations that have very good business models and have proven themselves to be very profitable and have employed a lot of Filipinos.

The bank ended 2022 with more than P261 billion worth of loans extended to the agriculture sector, a growth of around 5 percent year-on-year.

Landbank president and chief executive officer Cecilia Borromeo believed that is the biggest loan portfolio to the agri (culture) sector.

The loan growth for the sector is higher than the sector’s full-year output last year which is 0.5 percent.

Borromeo is optimistic of the sustained rise of lending to the agriculture sector this year but declined to give specific figures.

The bank’s focus on the agriculture sector will be further felt through its “Iskolar ng Landbank Program”.

The program aims to provide scholarships to 360 college level students who are dependents of agrarian reform beneficiaries (ARBs) and small farmers and fishers nationwide.

The bank has allocated a total of P128 million for this program that will run from 2023 until 2028.

Landbank also intends to further boost the government’s financial digitalization bid through the expansion of the bank’s digital banking services.

They believe such measure is a very good way of including many Filipinos into the mainstream of banking.

Meanwhile, through LandBank, the Government Service Insurance System is now accepting optional non-life insurance (ONLI) premium payments and the corresponding taxes and fees from clients online.

This is in line with the continuing effort of the state pension fund to provide an enhanced customer experience using digital platforms.

ONLI is a benefit granted exclusively to GSIS active members, retirees, pensioners, and their qualified dependents so that they can avail of insurance protection for themselves and for their property/ies against accidents or unforeseen events.

It includes coverage for motor vehicle insurance, fire insurance, and personal accident insurance.

“We are expanding our digital payment platforms so that even clients who availed of our ONLI policies are given access to additional secure, accessible, user-friendly channels,” GSIS President and General Manager Wick Veloso said.

Clients who wish to avail of the online payment facility (OPF) may access the LANDBANK Link.Biz Portal (https://www.lbp-eservices.com/egps/portal/index.jsp).

For payments using the LANDBANK Link.Biz Portal via Bancnet, bank accounts from the following may be used: Asia United Bank, CTBC Bank, Citystate Savings Bank, Enterprise Bank, Entrepreneur Bank, Equicom Savings, Luzon Development Bank, MASS-SPECC, Malayan Bank, Overseas Filipino Bank, PBCom Bank, Philippine Business Bank, Philtrust Bank, Sterling Bank, or Sun Savings Bank.

For LANDBANK Link.Biz Portal via Paygate, accounts from following may be used: Bank of the Philippine Islands, Rizal China Banking Corporation, Philippine Savings Bank, Robinsons Bank, or Union Bank of the Philippines.

Aside from insurance payments, GSIS clients may pay their service loans and housing loans via the online facilities of LANDBANK and Union Bank, respectively.

GSIS service loans may also be paid using the award-winning GSIS Touch mobile app.

**

For comments, please call or text 09569012812 or email [email protected]