Land Bank Turns over 354,783 Hectares of Land for Agrarian Reform Beneficiaries
The Land Bank of the Philippines (LANDBANK) recently turned over to the Department of Agrarian Reform (DAR) 208,895 Certificates of Land Ownership Awards (CLOAs) covering a total of 354,783 hectares of land for distribution to agrarian reform beneficiaries (ARBs).
“LANDBANK is committed to serve farmers and fishers, including ARBs, in fulfilment of our mandate and pursuit of promoting growth in the countryside. We fully support DAR in the issuance of CLOAs and helping ARBs to gain more liberty and control over their lands, through which we hope to increase agricultural productivity,” said LANDBANK President and CEO Cecilia C. Borromeo.
3,566 of these CLOAs cover an area of 6,679 hectares, which were included in the 24,000 hectares of land distributed by President Rodrigo Duterte and DAR Secretary John Castriciones in General Santos City last June 13, 2019. A total of 13,585 ARBs from Sultan Kudarat, North Cotabato, South Cotabato and Sarangani Province benefited from the land distribution.
LANDBANK serves as a financial intermediary for the Comprehensive Agrarian Reform Program (CARP), with tasks such as computing the value of lands acquired by DAR for distribution to ARBs.
Boosting support to ARBs
To further increase agricultural productivity of ARBs, LANDBANK initially allocated PhP5 billion for a newly-enhanced direct lending program which specifically caters to them.
Under the Accessible Funds For Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, ARBs may avail loans to finance production of rice, corn, and high-value crops, as well as the acquisition of small farm implements.
LANDBANK will focus on lending to individual ARBs with Emancipation Patents (EPs)/ CLOAs, leaseholders with existing leasehold contracts or any title under Agrarian Reform Programs, identified through a list to be provided by DAR, the Bank’s program partner.
“Together with DAR, we would like to reach and serve more ARBs. We have a focused approach for this program which involves knowing them better – who they are, where they are, and what crops they will plant. So that when DAR gives the CLOAs, LANDBANK will be there ready to provide credit assistance to finance their farming needs, enabling them to become even more productive and efficient,” Borromeo added.
