Farmers get Landbank aid worth P2.65 billion amid COVID
Louise Maureen Simeon (The Philippine Star) - July 12, 2020 - 12:00am

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

Land Bank has paid out P2.65 billion to nearly 530,000 farmer-beneficiaries across 26 provinces listed under the Department of Agriculture’s Financial Subsidy to Rice Farmers initiative.

As of July 1, a total of 61,928 rice farmers claimed their cash benefits through their existing Land Bank cash cards while 467,888 farmers received their financial assistance in designated pay-out sites nationwide.

These farmers were largely affected by quarantine measures due to the pandemic.

Through the FSRF program, small rice farmers tilling farms with an area of one hectare or less received P5,000 each to supplement their production budget and family income.

“This is in fulfillment of our expanded mandate to support our priority sector, the agriculture sector, recover from the challenges of COVID-19 as soon as possible,” Land Bank president and chief executive officer Cecilia Borromeo 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.

Aside from the delivery of cash aid, Land Bank has also provided 29,728 agrarian reform beneficiaries a one-year moratorium on amortizations with due dates falling during the previous enhanced community quarantine period.

This covered 41,837 hectares of agricultural land amounting to a total of P1.56 billion in dues.

COVID-19
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