The state-run Land Bank of the Philippines (Landbank) has extended P62.32 billion in loans for projects aimed at local government units’ (LGUs) recovery from the health and socioeconomic crises inflicted by COVID-19.
In a statement on Wednesday, Landbank said it already released P1.89 billion to 32 local governments that borrowed money under its restoration and invigoration package for a self-sufficient economy towards upgrowth for LGUs (Rise-Up LGUs) loan program. The total loan approvals so far covered 194 LGUs.
Due to an increasing number of applications, Landbank hiked its allocation for Rise-Up LGUs to P80 billion from only P10 billion when it was launched in the middle of las…
Keep on reading: Landbank extends P62.32B in loans to help LGUs recover from pandemic