LandBank, DA to speed up distribution of cash grants to rice farmers

The Land Bank of the Philippines (LandBank) said Friday it was coordinating with the Department of Agriculture (DA) to expedite the distribution of cash grants to farmer beneficiaries under the Rice Farmers Financial Assistance (RFFA) Program.

The Federation of Free Farmers (FFF) earlier raised concerns about the alleged delays in the release of the P5,000 subsidies for rice farmers under the program.

In response, the LandBank said the non-release of the grants to 90,227 farmers in the Ilocos Region, Cagayan Valley, Central Luzon, and Western Visayas was primarily due to the DA’s request for the bank to procure Intervention Monitoring Cards, which will be used for the distribution of cash aid.

"LandBank is cognizant of the need for government cash assistance to reach marginalized Filipinos, especially our farmers. We assure the public that these limited and precious resources are being managed with the utmost prudence, and we will continue to work closely with the DA for the immediate release of the cash grants," LandBank president and CEO Cecilia Borromeo said in a statement.

From August 1 to 18, LandBank said it received the request for batch opening of accounts and card production for the Ilocos Region with 58,103 accounts; Cagayan Valley with 27,159 accounts; Central Luzon with 3,978 accounts; and Western Visayas with 987 accounts.

LankBank said it was in the process of validating these accounts and, if all comply with the requirements, the distribution of 90,227 cards for these regions will begin on September 7.

"The RFFA Program is part of the implementation of the Rice Tariffication Law, with the DA as the lead agency, and LandBank as the program’s disbursing arm," it said.

"Thus, the bank is dependent on the submission from the DA of the list of accounts of farmer-beneficiaries for opening and card production. The list will then be duly validated by LandBank." —VBL, GMA News