Coffee Farmers Get P10-M Financing From Landbank


LANDBANK of the Philippines (Landbank) approved on October 2, 2020 a credit line of P10 million for the Balutakay Coffee Farmers Association (Bacofa) in Bansalan, Davao del Sur.

“The P10 million will be for its rediscounting line and working capital for coffee trading that will be used to augment the working capital requirement of its members,” Jose Enedicto G. Faune, Landbank vice president and head of the Davao Lending Center, said during a virtual press conference on Wednesday, October 14, 2020.

Bacofa manager Marivic Dubria, in a separate interview with SunStar Davao, said P3.5 million will be for the buying of the coffee beans of the members, while P6.5 million will be allotted for the loans of its 84 members.

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