THE Land Bank of the Philippines (LANDBANK) has distributed over P308 million to farmer beneficiaries eligible for the Department of Agriculture’s (DA) financial subsidy for rice farmers.
As of April 22, a total of 61,564 rice farmers across 26 provinces received financial assistance, LANDBANK said. The farmers were largely affected by quarantine measures imposed as a result of the coronavirus disease 2019 (COVID-19) pandemic.
“We are in close coordination with the DA to supplement the income of our small rice farmers and their families the soonest possible time,” LANDBANK President Cecilia C. Borromeo said.
Farmers cultivating one hectare or less have received P5,000 each through the Expanded Survival And Recovery Assistance Program for Rice Farmers via Rice Financial Assistance Cash Cards.
LANDBANK is also preparing to give cash grants to more rice farmers over 34 provinces, pending the release of the list of additional beneficiaries from the DA.
The beneficiaries can claim their financial assistance over the counter from designated LANDBANK branches.
The financial aid distribution program is in support of the national government’s Social Amelioration Program (SAP) as authorized by Republic Act (RA) 11469 or the Bayanihan to Heal as One Act. — Revin Mikhael D. Ochave