The Land Bank of the Philippines (LANDBANK) garnered three Merit Awards during the 45th Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Annual Meeting on 26 October 2022 at the Conrad Hotel in Pasay City.
“These recognitions from the ADFIAP highlight LANDBANK’s expanded coverage as a development institution. We will continue our efforts to help address climate change; support key economic industries to recovery and resiliency; and fast-track financial inclusion nationwide,” said LANDBANK President and CEO Cecilia C. Borromeo.
LANDBANK received the Merit Award on Environmental Development for the Renewable and Efficient Alternative (REAL) Energy Financing Program, which supports renewable energy projects that promote local capacity for climate change adaptation and mitigation.
As of 31 August 2022, LANDBANK has approved P20.2 billion in loans to 59 borrowers under the REAL Energy Financing Program.
The Bank also received the Infrastructure Development Merit Award for providing efficient right-of-way appraisal services for the infrastructure projects of the Department of Public Works and Highways (DPWH) and Department of Transportation (DOTr).
In 2021, the Bank successfully appraised around 10,000 properties for 92 big-ticket infrastructure projects for roads, highways, bridges, and railways, to help stimulate local economic activities, attract foreign investments, and create employment opportunities.
LANDBANK likewise received the ADFIAP Merit Award for Financial Inclusion for its contribution to the Enhanced Partnership Against Hunger and Poverty (EPAHP) initiative, which aims to mitigate hunger, ensure food and nutrition security, and reduce poverty in urban and rural communities.
The Bank alloted P2 billion under the LANDBANK EPAHP Lending Program to extend collateral-free loans to farmers and fishers groups organized as Community-Based Organizations (CBOs), who in turn supply food items for the feeding programs of partner government agencies.
LANDBANK has released under the EPAHP Lending Program a total of P9.6 million to seven agri suppliers as of September 2022.
The ADFIAP is on its 45th year of recognizing outstanding leadership achievements by individuals and organizations in the Philippines and across the Asia-Pacific region.