‘Number 1 Commercial Bank’: Duterte Threatens to Shut down LandBank

President Rodrigo Duterte on Monday threatened to abolish the Land Bank of the Philippines, saying the state-run lender is not giving enough credit assistance to farmers.

In his fourth State of the Nation Address, Duterte said LandBank is “mired in so many commercial transactions” that it supposedly forgot about its mandate of spurring countryside development by helping farmers.

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