In stride with advancing agricultural development, the Land Bank of the Philippines (LANDBANK) recently distributed cash cards to farmer beneficiaries under the Rice Competitiveness Enhancement Fund-Rice Farmers Financial Assistance (RCEF-RFFA) Program in Tigbauan, Iloilo.
In partnership with the Department of Agriculture (DA), the LANDBANK Miag-ao Branch distributed Intervention Monitoring Cards (IMCs) loaded with P5,000.00-worth of cash assistance to 2,206 farmer-beneficiaries.
As of June 2023, the Bank has already distributed LANDBANK IMCs to a total of 235,145 beneficiaries nationwide, with the rest of eligible beneficiaries set to receive their financial assistance until the end of August this year.
“LANDBANK remains at the forefront of providing timely support to small farmers all over the country. Together with the DA, we will continue to ramp-up the distribution of cash cards to help increase agricultural production and income,” said LANDBANK President and CEO Lynette V. Ortiz.
The RCEF-RFFA Program aims to offer vital support to smallholder rice farmers registered under the Registry System for Basic Sectors in Agriculture (RSBSA), who are cultivating rice lands measuring two hectares and below.
LANDBANK serves as the disbursing arm of the RCEF-RFFA Program, wherein eligible farmers receive cash assistance of P5,000.00 as part of the implementation of the Rice Tariffication Law (RTL).
