Farmers get P308 million cash from Landbank

MANILA, Philippines — Government-owned Land Bank of the Philippines has paid out over P308 million to farmer-beneficiaries  listed under the Department of Agriculture’s financial subsidy to rice farmers.

As of April 22, a total of 61,564 rice farmers across 26 provinces had already received financial assistance from Landbank.These farmers were largely affected by the community quarantine.

Local farmers tilling one hectare or less received P5,000 each through the existing Landbank Expanded Survival and Recovery Assistance Program for Rice Farmers and Rice Farmer Financial Assistance Cash Cards.

Landbank is also preparing to release cash grants to more rice farmers covering 34 provinces nationwide pending the list of additional beneficiaries from DA.

Farmer-beneficiaries will claim the cash subsidy over-the-counter from designated Landbank branches.

“We are in close coordination with the DA to supplement the income of our small rice farmers and their families the soonest possible time,” Landbank president Cecilia Borromeo said.

“This forms part of Landbank’s intensified support to the agriculture sector, which belongs to the most vulnerable sectors during this COVID-19 crisis,” she said.

The financial aid distribution is in support of the Social Amelioration Program of the government for the implementation of the Bayanihan to Heal as One Act.