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Home » » LANDBANK and NDA partner for MILK financing program

LANDBANK and NDA partner for MILK financing program

Written By Jane Miranda on Monday, January 20, 2014 | Monday, January 20, 2014

LANDBANK and NDA partner for MILK financing program
The country’s local dairy industry is set to receive a much-needed boost through the Masustansyang Inumin para sa Likas na Kalusugan (MILK) credit assistance program – a partnership between LANDBANK and the National Dairy Authority (NDA).

The program will make available financial and technical assistance for the production, processing and marketing activities of dairy cooperatives, farmers and other local industry stakeholders to help improve their productivity and increase their income. It likewise aims to help increase domestic milk production in the country. Under the agreement, the NDA has committed P30 million in credit support and technical assistance.

“This program forms part of LANDBANK’s efforts to contribute to the NDA’s goal to further develop the local dairy industry. We also hope to more actively promote dairy entrepreneurship especially among rural folk, as we hope to maximize the industry’s huge potential and optimize opportunities for sustainable growth,” said LANDBANK President and CEO Gilda Pico.

Eligible borrowers under the program include cooperatives/associations, federations, countryside financial institutions, small and medium enterprises and agri-business entities. The loan amount may be used as permanent working capital or fixed assets and livestock acquisition.

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