The Land Bank of the Philippines, in partnership with the Department of Agriculture, continued to distribute cash assistance to small rice farmers during the CoVid-19 pandemic, paying out P993.15 million to 198,630 farmer-beneficiaries.
The one-time financial assistance of P5,000 each is granted to rice farmers tilling 0.5 to two hectares of farms under the DA’s Rice Farmer Financial Assistance (RFFA) program, and those tilling farms one hectare or less under the DA’s Financial Subsidy to Rice Farmers (FSRF) initiative.
As of May 13, a total of 107,463 RFFA and 91,167 FSRF farmer-beneficiaries received their cash grants amounting to P537.315M and P455.835M, respectively.
The distribution of cash assistance under the RFFA and FSRF is expected to continue until June.
Land Bank has partnered with various national government agencies for the distribution of the Social Amelioration Program in support to the implementation of the Bayanihan to Heal as One Act to combat the Covid-19 pandemic. – Press release