LandBank funds several projects of Biliran LGUs

BILIRAN—State-run Land Bank of the Philippines, the sole servicing bank in Biliran, said that as of 30 June 2022, it has approved loans to Biliran local government units (LGUs) amounting to P747.9 million. The LandBank said in a statement these include the following: financing for the construction of road networks, waterworks systems, public markets and government buildings; and, acquisition of essential equipment, among others.

In support of the Provincial Government’s Covid-19 response, LandBank financed the acquisition of medical equipment and supplies to boost the healthcare services of the Biliran Provincial Hospital—the only public hospital in the province.

The bank, likewise, supported the provincial government in the acquisition of land and sea ambulances to assist all municipalities for the expedient transfer of patients to the provincial hospital.

The provincial government was also assisted by the state-run lender to complete a 4-kilometer road, drainage and flood control systems, water reservoir and perimeter fence in the Municipality of Naval, which serves as the provincial capital.

LandBank’s outstanding loans to Biliran’s agriculture sector have reached P79.2 million, with nearly 25,000 farmers and fishers assisted as of end-June 2022. Major provincial commodities financed include the production of milkfish and palay.

At the same time, LandBank also facilitates the regular disbursement of subsidies to over 20,000 local beneficiaries of the Conditional and Unconditional Cash Transfer (CCT/UCT) programs of the Department of Social Welfare and Development (DSWD).

LandBank, to note, has a 100-percent share in deposits and loans of all local government units (LGUs) of the province.

“Biliran is full of promising opportunities with its rich natural resources and flourishing agriculture and tourism sectors. LandBank fully supports the province’s development agenda by servicing the requirements of all LGUs and other local stakeholders,” LandBank President and CEO Cecilia C. Borromeo was quoted in a statement as saying.

LandBank is also providing Biliran LGUs digital banking facilities designed to enhance operational efficiency. These services include digital account management, online payment and collection of local fees and charges and digital tax payments.

The bank said it is also looking to expand its accessible touchpoints with two additional ATMs in the towns of Kawayan and Cabucgayan within the year.

LandBank, the only bank present in all 81 provinces in the country, is the biggest development partner servicing the LGU sector, with outstanding loans reaching P79.23 billion as of end-May 2022 and all LGUs nationwide maintaining deposit accounts with the state-run lender.