Landbank releases P1.2 billion for agriculture value chain financing

MANILA, Philippines — State-run Land Bank of the Philippines has disbursed P1.2 billion in loans through its enhanced lending program meant to support the entire agricultural value chain.

In a statement, Finance Secretary and Landbank chairman Ralph Recto said the Agriculture Growth and Resource Integration through Strategic and Enhanced Delivery of Support and Opportunities (Agrisenso) Plus program has released P1.16 billion in loans in six months.

As of end-May, the program has benefited 6,853 borrowers and financed over 21,000 hectares of farmlands.

Landbank said it aims to bring the program to at least 10,000 new beneficiaries by year-end as part of the government’s push to modernize and uplift rural livelihoods.

Launched in November 2024, the Agrisenso Plus program features expanded eligibility, lower interest rates and simplified loan process.

The program’s recent beneficiary includes 1,000 farmers in Bukidnon.

Agrisenso Plus finances a wide range of agri-fishery needs – from crop and fisheries production to the acquisition of farm machinery, pre-and post-harvest facilities and pond development.

It also integrates financing with skills training, market access and innovation adoption.

Similarly, it covers a broader range of beneficiaries including small fishers and micro, small, and medium enterprises involved in the agricultural value chain, as well as agriculture graduates.

Agrisenso Plus provides borrowers with free life and credit life insurance.

The program offers a fixed interest rate of four percent per annum for small farmers, fishers and agrarian reform beneficiaries while other borrowers are charged with 6.5 to 7.5 percent per year.