Manila: State-owned Land Bank has stated that it has provided a loan amounting to P1.55 billion to the sugarcane sector as of April-end as its efforts to support the agriculture industry, reports Philstar.
Under the Socialized Credit Program-Sugarcane Industry Development Act (SCP-SIDA), 4,366 individuals have received benefits worth P700.45 million which are distributed in partnership with the Sugar Regulatory Administration (SRA), said Landbank.
Lynette Ortiz, CEO and president of Landbank said, “We are committed to assisting sugarcane farmers to increase their production and income.”
The SCP-SIDA aims to increase the productivity of sugarcane farms by promoting cost-efficient and advanced farming practices, helping farmers to invest in modern farm techniques and procure high-quality inputs.
