Land Bank of the Philippines (LBP) launched Agrisenso Plus, a lending program, and the Agri-Fishery Support thru Capability Enhancement for Nationwide Development (ASCEND) for farmers and fisherfolk to help them start and manage their own businesses in Palawan on Friday, October 12.
Agrisenso Plus offers an accessible financing package for small farmers and fisherfolk for agri-based businesses. Initial beneficiaries include farmers from the towns of Bataraza, Brooke’s Point, Rizal, and Sofronio Española.
The ASCEND program, on the other hand, is a flagship capacity-building initiative of Land Bank that aims to equip beneficiaries with the knowledge and skills to manage their finances and establish their own businesses.
LBP President and CEO Lynette Ortiz explained that Agrisenso is a banner program of Land Bank that is “directed for the entire value chain of agriculture that we really want to extend credit facilities, capital, to our farmers and fishers.”
“What we’ve done is as well sort of to create a building block approach where really reach out to farmers and fishers to be able to fund various uses of proceeds like general farming machinery and everything,” Ortiz said, adding that the program also caters to micro, small, and medium enterprises (MSMEs), which she said is important, and to corporate farms.
She also explained that the Agrisenso launch in Palawan is their seventh across different provinces, noting that the program has been gaining traction with support from various government agencies.
Additionally, Ortiz said that with Land Bank having four branches in Palawan, they are planning to add four to six more branches to provide more access points for farmers in the province.
“It’s important so it will be easier for farmers to transact, open their accounts, make their payments, and to be part of the banking system. And on top of that, all of these branches will be able to assist in processing loans,” she explained.
She added that since Agrisenso Plus is a lending facility, it is important for farmers to receive financial education through ASCEND.
“So what we would like to build and foster are agri-preneurs,” she noted.
