DOF to NFA: Explain below-target 2017 rice procurement despite availability of palay-buying funds

September 6, 2018

The Department of Finance (DOF) has asked the National Food Authority (NFA) to immediately explain why it had procured palay stocks way below its projected buffer requirement in the second half of 2017 and revised its buying mix to heavily favor imports over rice from local farmers during the same period, despite ample funds at its disposal and a standby credit facility that it could have readily tapped to maintain its mandated buffer stock.

LandBank has P655-B rural loans in H1

September 2, 2018

Finance Secretary Carlos Dominguez III has commended the Land Bank of the Philippines (LandBank) for extending P655 billion in loans  to rural communities as of June this year, in step  with the Duterte administration’s goal of stimulating the economy and encouraging the growth of enterprises in the countryside.