MANILA, Philippines — State-owned Land Bank of the Philippines inaugurated two new “agri-hubs,” one in Oriental Mindoro and another in Misamis Occidental, to help boost rice production and provide more financial services to local producers.
The agri-hub in Bongabong, Oriental Mindoro, covers 36 barangays of the town and three adjacent barangays of Bansud municipality. It is seen to reach more than 12,200 farmers and fishers, 5,300 beneficiaries of the Department of Social Welfare and Development, local government workers and private clients.
READ: Landbank expands center for farmers, fisherfolk
On the other hand, the agri-hub in Plaridel, Misamis Occidental, will cater to 61 combined barangays of Plaridel and Lopez Jaena towns, home to more than 23,000 farmers and fishers.
Landbank has been opening agri-hubs in top rice-producing provinces to bring various financial services to local producers. It offers banking services such as account opening, withdrawals and check encashment, and lending services such as processing loan applications.
READ: Landbank asserts role as top agri lender, biggest GOCC
Likewise, such hubs offer agrarian services such as processing agrarian reform bonds and handling agrarian-related concerns.
The agri-hubs have an automated teller machine and a digital corner where clients can open a deposit account in 15 minutes or less using its digital onboarding system.
“The strategic presence of Landbank agri-hubs in the country’s top rice-producing provinces ensures that we meet the developing needs of rice farmers and other agricultural players,” Landbank president and CEO Lynette Ortiz said.
“We aim to make financial services more accessible and contribute to boosting domestic rice production,” Ortiz said. INQ