DA, LANDBANK distribute P5,000 subsidy for rice farmers in Nueva Ecija

MUÑOZ, Nueva Ecija – The Land Bank of the Philippines (LANDBANK) joined the Department of Agriculture (DA) in distributing cash grants to rice farmers during the program kick-off of the Rice Competitiveness Enhancement Fund-Rice Farmer Financial Assistance (RCEF-RFFA) in Nueva Ecija on 24 November 2021.

The RCEF-RFFA Program aims to provide unconditional cash assistance to registered rice farmers with landholdings of two hectares and below, in line with the implementation of the Rice Tariffication Law (RTL).

A total of 238 farmer-beneficiaries who attended the event received P5,000 each through LANDBANK, from the total 41,811 eligible rice farmers in Nueva Ecija to be assisted through the RCEF-RFFA Program.

LANDBANK will facilitate the crediting of cash grants to the existing LANDBANK cash cards of farmer-beneficiaries, as well as to the Interventions Monitoring Card (IMC) currently being developed in partnership with DA that will serve as both an identification and cash card.

Agriculture Secretary William D. Dar and Nueva Ecija 3rd District Representative Rosanna V. Vergara led the ceremonial distribution event, alongside DA Assistant Secretary for Operations Arnel V. De Mesa, DA Regional Director for Region III Crispulo G. Bautista, Jr., and LANDBANK Central Luzon Branches Group Head, Senior Vice President Sylvia C. Lim.

LANDBANK also serves as the disbursing agent for the DA’s RFFA and Financial Subsidy to Rice Farmers (FSRF) programs, with combined releases amounting to P4.08 billion that benefitted 816,373 farmers nationwide.

The state-run Bank continues to work closely with the DA in serving the country’s agriculture sector through intensified and timely support interventions, which includes the immediate delivery of cash grants to farmer-beneficiaries.