A palpable sense of optimism bloomed at the Ilagan City Community Center in Isabela recently as over 1,300 farmers gathered for the launch of the Land Bank of the Philippines’ (LANDBANK) groundbreaking AGRISENSO Plus Lending Program.
For many, like yellow corn farmer Gilbert Pacis, this initiative represents more than just financial assistance; it’s a lifeline that promises to alleviate the perennial struggle of securing capital and sow the seeds for a more prosperous future.
“Because of this, we will no longer have to worry about our capital. AGRISENSO Plus gives me the courage to plant again,” Pacis shared, his words echoing the collective relief and renewed vigor among the attendees.
LANDBANK steps in to provide a crucial financial lifeline
LANDBANK remains steadfast in its commitment to promoting inclusive and sustainable development in the agriculture sector and this program arrives at a crucial time for Isabela, a province known for its rich agricultural land and significant contribution to the nation’s food basket.
The AGRISENSO Plus Lending Program is designed to provide accessible and affordable credit to smallholder farmers, fishers, and agri-entrepreneurs. By offering flexible loan terms and competitive interest rates, LANDBANK aims to address the specific financial needs across the entire agricultural value chain, from planting to processing and marketing.
This tailored approach recognizes the diverse challenges faced by those who work the land and sea, offering a financial instrument that truly understands their cycles and demands.
The launch event itself was a testament to the program’s potential impact.
An impressive 1,304 farmers turned out, with over 500 immediately taking the first step by initiating their loan applications.
LANDBANK further streamlined the process by facilitating on-site ATM card applications, a move aimed at integrating more farmers into the formal banking system and empowering them with greater financial autonomy. Anticipation is high, with an additional 400 loan applications expected from farmers currently finalizing their requirements.
Key players unite to support Isabela’s farmers
The success of AGRISENSO Plus hinges on collaboration, and the launch event underscored this commitment. Key stakeholders, including Ilagan City Mayor Hon. Josemarie L. Diaz, LANDBANK Northern Luzon Lending Group Head First Vice President Eduardo N. Reyes, and representatives from local LANDBANK branches, were present to demonstrate their unified support for the program. The presence of SAGITTARIAN Agricultural Philippines, Inc. President and CEO Jose Avelino C. Diaz highlighted the crucial role of partnerships in bolstering agricultural growth.
Beyond immediate financial assistance, LANDBANK recognizes the importance of equipping farmers with the knowledge and skills necessary for long-term success. Rostom M. Molina of the Philippine Crop Insurance Corporation (PCIC) discussed vital insurance services, offering a safety net against unforeseen agricultural risks.
Complementing this, Engr. Roquito L. Cabras of the LANDBANK Countryside Development Foundation, Inc. (LCDFI) led an engaging session on Digital Financial Literacy. This initiative aims to bridge the digital divide and empower farmers with the tools to manage their finances effectively in an increasingly digital world.
The AGRISENSO Plus program is further strengthened by its capacity-building component, the ASCEND Program. ASCEND focuses on enhancing financial literacy and entrepreneurial skills through training on modern farming techniques, sound financial management, and improved market access. By investing in the human capital of the agricultural sector, LANDBANK aims to empower farmers not just with funds, but with the knowledge to optimize their productivity and profitability.
As Isabela prepares for the upcoming yellow corn cropping season, LANDBANK is actively scaling up its efforts to reach even more farmers, ensuring that vital resources are readily available. Through the combined power of AGRISENSO Plus and the ASCEND Program, LANDBANK reaffirms its unwavering commitment to empowering Filipino farmers.
This initiative in Isabela serves as a beacon of hope, demonstrating how targeted financial support, coupled with crucial capacity-building measures, can indeed cultivate growth and foster sustainable financial stability within the agricultural heartlands of the Philippines. The seeds of change have been sown, and the farmers of Isabela are ready to reap a more bountiful harvest.