The Land Bank of the Philippines and the National Irrigation Administration (NIA) have signed a partnership to improve access to affordable financing in irrigated areas, according to a report by Philstar Biz.
The initiative targets farmers and cooperatives in NIA-managed irrigation systems, offering lower interest rates and simplified loan requirements. This aims to boost agricultural productivity by ensuring farmers have capital for inputs and equipment.
Both agencies expect the expanded credit access to support the government's food security goals and improve rural livelihoods. The program aligns with broader efforts to modernize the agriculture sector through increased investment.