|
Wednesday, June 07, 2006
LBP loans to priority sectors reach P77.4 billion
LAND Bank of the Philippines (LBP), the premier financial institution in countryside development, has increased its loans to its priority sectors from the year-ago level of P73.9 billion to P77.4 billion as of March 2006.
The figure represents 65 percent of the bank's P119 billion total loan portfolio.
LBP acting president and CEO Gilda Pico reported that the bank is aggressively pursuing its lending programs for the country's small farmers and fisherfolk, microenterprises and SMEs, agribusiness, agri infrastructure, agri and environment-related and other livelihood projects.
"This is consistent with our thrust to focus our credit assistance to these sectors which we consider as prime movers of countryside growth. We are closely working with these sectors in promoting economic activities and generating employment especially in the rural areas," Pico said.
Loans to microenterprises and SMEs totaled P18.5 billion, up by seven percent from P17.3 billion in March 2005. From January to March alone, more than 38,000 microfinance borrowers, mostly women, were supported.
Outstanding loans to the country's small farmers and fisherfolk totaled P15.9 billion as of March 2006.
Over the years, the bank has extended loans to 2.1 million farmers and fisherfolk nationwide.
Loans to agribusiness, agri-infrastructure and agri-related projects expanded from last year's P36.4 billion to P40.2 billion this year or an increase of P3.8 billion.
For Bisaya stories from Davao. Click here. (June 7, 2006 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
