Land Bank of the Philippines
Land Bank of the Philippines is a government-owned institution with a mandate to facilitate agricultural development and entrepreneurship in rural areas in the country. It has worked closely with local government units (LGU) in financing community projects such as marketplaces, fresh water reservoirs and water distribution systems. As a member of the Bankers Association of the Philippines, it is a shareholder of Local Government Unit Guarantee Corporation (LGUGC), a PFAN partner which focuses on facilitating LGU access to financing. With a 7.5B USD clean technology fund from various multilateral agencies, its partnership with PFAN is strategic in 2 ways. First, it delegates the task of due diligence to PFAN’s financial and technical experts and paves the way for capacity building in the future. Second, it gives the Land Bank of the Philippines immediate access to projects in the advanced stage of development in the PFAN pipeline. In return, the Land Bank of the Philippines’ mature ties with local government units and expertise in rural development provide PFAN’s project developers valuable, real-world advice in negotiating the unique financial and development landscape of the Philippines.