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Monday, February 07, 2005
Land Bank loans in Region VII top P8.8B
By Syril G. Repe
LAND Bank of the Philippines (LBP) loaned out a total of P8.8 billion to different sectors in Region VII last year, said LBP President and Chief Executive Officer Margarito Teves in a recent press conference at Bethel Quest House in Dumaguete City.
Teves, a former congressman representing the third district of Negros Oriental, said that of the total P5.5 billion went to its priority sectors that include small farmers and fisher folks, small and medium enterprises (SME) and micro-enterprises, local government units, environment-related projects, and agri-infrastructure and agri-business projects.
The remaining loans of P3.3 billion represented non agri-related loans in Central Visayas.
The loan share of Negros Oriental borrowers totaled P500 millions.
"We've achieved our target of 60 percent share of the bank's loan portfolio for our priority sectors," Teves said. "This is higher than the 56 percent share we reached in 2003."
Nationwide, loans to farmers and fisher folks reached P15.2 billion. The SME sector received P16.9 billion while agribusiness chalked up P18 billion.
Teves said more than 308,000 small farmers and fisher folks benefited from the new loan releases, which were channeled through approximately 1,000 cooperatives and 400 countryside financial institutions.
(February 6, 2005 issue)
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