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Govs
call on LBP to provide direct support to farmers as part of
patriotic duty
Government
financial institutions are not only business enterprises,
they should also be partners in national development.
The country’s local chief executives have joined the
call of the Department of Agriculture for the Land Bank of
the Philippines, and other GFIs as well, to relax its requirements
relative to the access of its P5 billion credit facility for
micro-finance.
Davao
del Sur Gov. Dodo R.A. Cagas, during the 3rd General Assembly
of the League of Provinces of the Philippines held recently,
pointed out that Land Bank cannot always act as a business
institution, but should also do its share toward national
development.
He
said that the LBP should also extend soft loans direct to
farmers – loans with lesser documentary requirements
and lower interest rates.
“The
LBP cannot always act as a business institution, it needs
to provide support to the farmers not under ordinary the course
of events. We would like to request Land Bank to extend soft
loans to the farmers imposing lesser requirements, lower rates
as their share in national development,” Cagas emphasized.
Sec.
Yap likewise sought the support of the league to request Land
Bank and other government financial institutions to come out
with the guidelines on how to access the P5 billion funds
for microfinance.
LBP
VP Liduvino Geron, who was also part of the DA entourage during
the meeting, explained that the bank has a P5 billion credit
facility for rice production and another P10 billion for production
of other crops, and has lowered its annual interest rate from
12% to between 9-11%.
These
loan facilities are released through conduit cooperative banks,
he said.
Consequently,
non-members are encouraged to join accredited cooperatives.
However, non-members of accredited cooperatives, but are members
of local associations can avail of the credit facility as
long as they are traders who are going to buy their produce.
Gov.
Emilio Macias III of Negros Oriental pointed out that previously,
it was the traders who provided money for the farmer to produce,
but not it is the Land Bank who is funding the farmer, but
is still committed to the trader.
Cotabato
Gov. Jesus N. Sacdalan likewise proposed for Land Bank to
directly import fertilizers and remove tariff, then sell it
at cost through the NFA to reduce cost and mark up of traders.
He earlier presented the proposal to Sec. Yap.
Geron,
however, pointed out that the Land Bank cannot go into direct
importation, a third party must do it for the bank.
(AJSanchez)
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