LANDBANK launches P1-B loan program to push financial inclusion

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LANDBANK announced a new loan facility to help address the financing needs of around 1.2 million farmers, fishers, micro and small enterprises in unserved areas across the country as part of its intensified efforts to promote greater financial inclusion.
Dubbed as EMBRACE or Empowering Barangays in Remote Areas through Credit and Enterprise, the program has more relaxed features and requirements, and lower interest rates for farmers to engage in eligible projects like agricultural crop, livestock, and fishery production; as well as agri-enterprise and other livelihood activities.
LANDBANK officer-in-charge Cecilia C. Borromeo said the Bank earmarked P1 billion for this lending program that is in support of the government’s effort of promoting financial inclusion especially in the countryside.

LANDBANK remains the biggest credit provider to small farmers and fishers and local government units, and the biggest lender to microenterprises and SMEs among government financial institutions.

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