Landbank, DBP release guidelines for interest rate
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Under Republic Act 11494 or the Bayanihan 2 Law, Landbank and DBP were allotted P1 billion each to provide interest rate subsidy for new and existing loans secured by the LGUs.
Catalog; For You; The Philippine Star. Landbank, DBP release guidelines for interest rate subsidy 2020-12-07 By MARY GRACE PADIN . Government financial
Landbank finalizing guidelines for interest rate
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State-run Land Bank of the Philippines is set to finalize this week the guidelines for its interest rate subsidy to local government units, after the
Catalog; For You; The Philippine Star. Landbank finalizing guidelines for interest rate subsidy 2020-11-23 By MARY GRACE PADIN . State-run Land Bank of the Philippines
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- How did Landbank & DBP provide interest rate subsidy?
- Under Republic Act 11494 or the Bayanihan 2 Law, Landbank and DBP were allotted P1 billion each to provide interest rate subsidy for new and existing loans secured by the LGUs.
- Which banks are granting interest rate subsidies to local government units (LGUs)?
- MANILA, Philippines — Government financial institutions Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) have already approved the guidelines for the grant of interest rate subsidies to local government units (LGUs).
- Does Landbank cover LGU loans?
- Cañonero said the P1 billion allocated for Landbank is enough to cover P50 billion in total loans from LGUs. Government financial institutions Land Bank of the Philippines and Development Bank of the Philippines have already approved the guidelines for the grant of interest rate subsidies to local government units.
- Are LGUs aware of DBP lending guidelines?
- “The LGUs are already made aware of the guidelines by our lending centers,” Cañonero said. Similarly, DBP first vice president for corporate affairs Zandro Carlos Sison, in an email, said it has circulated the internal guidelines for the program among its lending offices nationwide.
- Does PhilStar have editorial control over Landbank's content?
- Philstar.com hosts its content but has no editorial control over it. In a text message to The STAR, Landbank president and chief executive officer Cecilia Borromeo said the DOF had already approved the general guidelines for the interest rate subsidy provisions under the Bayanihan to Recover as One Act or Bayanihan 2.
- Will LGUs get a subsidy in 2022?
- She said LGUs also have the option to avail a one-year or two year subsidy until 2022. After this period, interest rates of loans will be subject to repricing. Cañonero said the P1 billion allocated for Landbank is enough to cover P50 billion in total loans from LGUs.
