Landbank releases P993 million cash aid to rice farmers

MANILA, Philippines — Government-owned Land Bank of the Philippines has continued its cash aid distribution to rice farmers affected by the coronavirus disease 2019 (COVID-19) pandemic.

Landbank said it has paid out P993.15 million to nearly 200,000 farmer-beneficiaries listed under the Department of Agriculture’s Financial Subsidy to Rice Farmers initiative and Rice Farmer Financial Assistance program.

As of May 13, a total of 107,463 RFFA and 91,167 FSRF farmer-beneficiaries received their cash grants amounting to P537 million and P456 million, respectively.

The one-time financial assistance of P5,000 each is given to rice farmers tilling farms with areas of 0.5 to two hectares under the RFFA and those tilling farms one hectare or less under the FSRF.

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

The distribution of cash assistance under the RFFA and FSRF is expected to continue until June.

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

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.