In partnership with the Department of Agriculture (DA), the Land Bank of the Philippines (LANDBANK) continues to ramp up the distribution of cash grants to farmer-beneficiaries under the Rice Competitiveness Enhancement Fund – Rice Farmers Financial Assistance (RCEF-RFFA) Program.
As of 30 September 2022, LANDBANK has produced Intervention Monitoring Cards (IMCs) for 54,188 beneficiaries nationwide, of which 26,523 hail from the province of Pangasinan; 8,011 from Cagayan; 7,047 from Isabela; 7,204 from Sultan Kudarat; and the rest from the provinces of Tarlac, Pampanga and Camarines Sur.
Through the LANDBANK IMCs, the beneficiaries are to receive P5,000.00 worth of cash assistance each to purchase needed farm inputs and boost agricultural productivity. In close coordination with the DA, LANDBANK has likewise opened accounts for another 118,857 farmer-beneficiaries for immediate production and distribution of their own LANDBANK IMCs.
LANDBANK serves as the disbursing arm of the RCEF-RFFA Program, designed to provide responsive financial support to eligible farmer beneficiaries identified by the DA, as part of the implementation of Republic Act No. 11203 otherwise known as the Rice Tariffication Law (RTL).