PALAYAN CITY, Nueva Ecija – To give local farmers increased accessibility to financial solutions, the Land Bank of the Philippines (LBP) has bought the "Bilis Ipon: Digital Financial Inclusion Caravan" to this province, dubbed as the Rice Granary of the Philippines.
The caravan is part of the bank’s financial inclusion campaign to promote the habit of saving through digital products.
The event on Thursday afternoon at Nueva Ecija Convention Center here also featured LBP’s affordable loan offerings tailored to the unique needs of local farmer-participants.
In her message, LBP president and chief executive officer Lynette Ortiz underscored the bank’s unwavering commitment to serve the growth requirements of the agricultural sector.
“We want to show our farmers how convenient it is to practice good saving habits through Landbank's innovative digital solutions. At the same time, we continue to extend our accessible credit offerings to ramp up the growth of their production and income,” she said.
The caravan showcased the new Landbank "Agrisenso" lending program, designed to provide affordable credit assistance and support services to empower local farmers.
It has an initial PHP10-billion fund to assist small farmers and fishers engage in value-chain financing and farm clustering for increased production of rice, corn and high-value crops.
Event participants without bank accounts can also open their own Landbank Piso Plus basic deposit account on the spot using a smartphone, with no initial deposit and maintaining balance.
Meanwhile, to impart comprehensive risk management strategies for crops, representatives from the Philippine Crop Insurance Corporation guided farmers through the process of availing insurance programs for their crops, and their corresponding claims procedures. (PNA)
