An Act Prioritizing the Agricultural Sector in the Grant of Loans by the Land Bank of the Philippines, Amending for the Purpose Republic Act No. 3844, as Amended
- Proposes to amend the Charter of the Land Bank of the Philippines by limiting the amount of total loan portfolio (TLP) for programs and projects in other sectors other than agriculture to only 20%. This means 80% of the TLP shall be for agriculture. This amendment is a tool for poverty alleviation under the principles of financial inclusion by making more funds available for agriculture sector where many poor Filipinos belong.
- By current practice, 40% of the Bank’s TLP is lent out to non-priority sectors.
COMMENT : Off