Landbank, DAR Partner in Agri-Cash Project
The Land Bank of the Philippines(Landbank) recently signed memorandum of agreement with the Departmentof Agrarian Reform, through its Agraran Reform Communities Project 2 DAR-ARCP2) for the implemenation of the Agri-enterprise Credit iand Agrifinance Service (agri-Cash) project.
The project aims to provide finanial services to agri-based enterprises in Agrarian Reform Commmities (ARCs) through selected ountryside financial institutions, ARC cooperatives, Landbank-assisted cooperatives, and other lending conduits.
Through the agri-Cash, Landbank and the DAR intend to release up to P198 million in loans to target ARCP 2 clients from 2009 to 2012. The project likewise aims to mobilize savings and generate share capital totalling P33 million for the three-year period.
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