State-run Land Bank of the Philippines (LandBank) said its loan portfolio for the agriculture sector may grow 20 percent next year. “Probably with the intensified efforts we might reach 20 percent growth. Not this year [but] probably in 2020,” Landbank President and Chief Executive Officer Cecilia Borromeo told reporters in an interview late last week. The bank’s loan portfolio for the agriculture sector recently grew by more than 15 percent year-on-year. Efforts to further raise it is in response to President Duterte’s call for increased access of farmers to financing, Borromeo said.
In a recent statement, LandBank said ... more