Southern Mindanao

Landbank loans expand 16% to P280 B in 9 months

Economy

Nov 252013

MANILA, Philippines – State-run Landbank of the Philippines has reported a 16 percent increase in its loan portfolio to P280 billion in the first nine months of 2013, from P241.9 billion a year earlier.

Landbank president and CEO Gilda Pico said most of the loans were granted to priority sectors of the government.

Specifically, loans to priority sectors expanded to P221.7 billion, representing 79.2 percent of the bank’s total loan portfolio.

The bank’s priority sectors comprise, among others, small farmers and fisherfolks microenterprises and SMEs, agri-aqua related projects of LGUs and GOCCs, socialized to medium cost housing, and utilities.

“The consistent growth in our loan portfolio, particularly our loans to our priority sectors, is solid testament of Landbank’s aggressive support to the government’s thrust towards inclusive growth and our relentless commitment to nurture progress in the rural areas,” Pico said.

As of end-September, outstanding loans to small farmers and fisherfolks reached P29.6 billion, 15 percent higher than last year.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

From January to September, loan releases to small farmers and fisherfolks amounted to P29.8 billion.

The regions with the highest loan releases to small farmers and fisherfolk are Central Luzon with P6.8 billion, Central Visayas with P4.4 billion, followed by Cagayan Valley, Southern Mindanao, and Northern Mindanao with P3.9 billion, P2.7 billion and P2.6 billion, respectively.

Loans to microenterprises and SMEs also grew by a hefty 21 percent from P28.7 billion to P34.6 billion while loans to socialized, low-cost and medium-cost housing reached P22.9 billion.

SMI touts Tampakan project achievement

Economy

Jun 092013

MANILA, Philippines – Real stories of real people from Southern Mindanao filled the Manila air during the Sustainability Report launch of Sagittarius Mines Inc. (SMI) last June 6. The Manila launch is the culminating event from a series of two other roll-outs that happened in Davao City last 29 May and Koronadal City last May 31. SMI is the holder of a financial and technical assistance agreement that manages the Tampakan Copper-Gold project located in Southern Mindanao. Aside from the Sustainability Report magazine given to all attendees, the event showcased the stories of SMI’s different stakeholders who benefited from the companies programs – on education, livelihood, healthcare, resettlement consultation, and responsible mining advocacy campaign. The event touched on ‘a-day- in-the-life’ of a 73-year-old Blaan elder, Masalio Sumangay, who has witnessed all the changes that happened in her tribal community. Lola Sumangay expressed during the ‘Dialogue with the Stakeholders’, “I feel better now. I see progress everywhere and life for my people is now more comfortable.” Lola Sumangay added, “I am happy that all my children and grandchildren are now able to school. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 My daughter Dalena, one of the tribal chieftains, goes to many meetings to promote responsible mining and tell people about the benefits of mining.” Lola Sumangay further added, “SMI’s (sustainable) programs should benefit all tribal communities and barangays within the project area so that the IPs will not be jealous of the benefits that one tribe is enjoying.” The Read More …

P-Noy bent on reviving coco industry

Economy

Mar 072013

DAVAO CITY, Philippines – The Aguino government is bent on reviving the coconut industry especially after super storm Pablo struck the provinces of Davao Oriental and Compostela Valley, considered to be the country’s largest coconut-producing areas. According to President Benigno Simeon Aquino, “We have short and medium term interventions but what is important is the long-term intervention for the areas affected by Typhoon Pablo and in the long run, eventually revive the country’s coconut industry.” The President admitted though that it would take a long time for the coconut industry to fully recover. The President arrived here Wednesday for a series of engagements including addressing the participants to the Meetings, Incentives, Conventions, Events/ Exhibits Conference (MICECON) 2013 forum held here. The President also joined the Team PNoy senatorial candidates as they barnstormed key areas in Southern Mindanao. The President cited the short-term interventions carried out by the Department of Agriculture and the Philippine Coconut Industry in providing farm tractors and chainsaws to clear the coconut debris brought about by Typhoon Pablo. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He said coconut farmers were also given vegetable seeds which they could plant for their alternative source of livelihood. The President likewise pointed out that for the medium-term intervention for the coconut farmers affected by typhoon Pablo in Davao Oriental, they were provided an additional 40 units of chainsaws for the clearing operation. The DA also distributed corn seeds intended for planting under the coconut trees. The President said government would look Read More …