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Landbank’s New Charter: Sen. Mark A. Villar sponsors Senate Bill No. 2981, otherwise known as An Act Providing for a New Charter for the Land Bank of the Philippines (LBP). During Wednesday’s plenary session, February 5, 2025, Villar said that with the new charter, LBP envisions contributing not only to developmental programs for the countryside but also to countrywide and national programs. As of today, LBP is in all 82 provinces, with 533 branches, 74 branch-lite units, 3,112 ATMs, 60 lending centers, 55 accounting centers, and 14 field support service centers. “As a policy bank, LBP’s core operations are grounded on sustainable development, responding to the financing requirements of small farmers and fisherfolk and MSMEs, among other sectors that create employment and propel economic growth,” Villar said. Among the important features of the bill are: 1) the establishment of a stand-alone charter realigns LBP’s mandate with various functions that go beyond agrarian reform, enhancing its role as a GFI that serves key sectors; 2) features that improve access to capital such as an increase in authorized capital stock; and the potential for an initial public offering; 3) the diversified board of directors of 9 members will now include the NEDA Secretary as a new ex-officio member and 3 independent directors; and 4) the engagement in financial leasing will help stimulate economic activity by facilitating the acquisition of movable and immovable assets needed for government projects. (Senate Public Relations and Information Bureau)