{"id":223953,"date":"2019-07-22T21:55:58","date_gmt":"2019-07-23T01:55:58","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=223953"},"modified":"2019-07-22T21:55:58","modified_gmt":"2019-07-23T01:55:58","slug":"duterte-to-land-bank-youre-supposed-to-fund-agri-enterprises","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/07\/22\/duterte-to-land-bank-youre-supposed-to-fund-agri-enterprises\/","title":{"rendered":"Duterte to Land Bank: You\u2019re supposed to fund agri enterprises"},"content":{"rendered":"
\"\"<\/a>
FILE: President Rodrigo Roa Duterte at the Malaca\u00f1an Palace on July 11, 2019. ALBERT ALCAIN\/PRESIDENTIAL PHOTO<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— President Rodrigo R. Duterte called out the state-owned Land Bank for having turned into a \u201ccommercial bank\u201d when it should be prioritizing the financing of agriculture enterprises.<\/p>\n

In his 4th State of the Nation Address (SONA), Duterte urged Land Bank to help the farmers.<\/p>\n

\u201cThat’s why\u00a0itong<\/em>\u00a0(this) Land Bank\u00a0na ito, ‘pag hindi ito na…<\/em>\u00a0You know, you are called Land Bank but you are now the number one commercial bank in the Philippines,\u201d Duterte said.<\/p>\n

\u201cWhat the heck is happening to you? You are supposed to finance agricultural enterprises and endeavors.\u00a0Bakit wala<\/em>(Why aren\u2019t you doing it)? Bakit — why can’t you just buy a few wagons or whatever? Go to the countryside and ask the people if there are cooperatives,\u00a0tulungan ninyo<\/em>\u00a0(help them) to form one,\u201d he added.<\/p>\n

Duterte said Land Bank should \u201cgo back to land.\u201d<\/p>\n

\u201cWhy are you mired in so many commercial transactions?\u00a0Bumalik<\/em>\u00a0(Return)\u00a0kayo<\/em>\u00a0where you were created for and that is to help the farmers,\u201d Duterte said.<\/p>\n

He stressed that he will give Land Bank only until the end of July to present him a plan on how to help farmers.<\/p>\n

\u201cYou better decide on that, I will give you until the end of July to give me a plan or else I will ask Congress to reconfigure you what-not,\u201d Duterte said.<\/p>\n

He said if there is no viable plan for the farmers, then Congress might as well \u201cabolish\u201d it and the money intended for it might go to the congressmen for their development funds.<\/p>\n

In a press conference after his SONA, Duterte further clarified why he wanted to reconfigure Land Bank.<\/p>\n

\u201cIt\u2019s called Land Bank. Primarily, it was a bank intended to serve people who are connected with lands, whether owners or tenants,\u201d Duterte said.<\/p>\n

\u201cSo\u00a0\u2018yang<\/em>\u00a0land reform\u00a0na \u2018yan, nandiyan na<\/em>\u00a0— (So that land reform, that\u2019s there) most of it. I\u2019m going to complete the land reform whether the land owners like it or not because there are still tenants who are not in possession but the owners are still — the owners of the land control the — they produce and everything,\u201d he added.<\/p>\n

Duterte said Land Bank was really crafted \u201cto serve enterprises or whatever there is banking needs of the people who cannot — who can barely negotiate with a bank.\u201d<\/p>\n

Meanwhile, Duterte also asked Congress to pass \u201ca more responsive version\u201d of the bill establishing the Coconut Farmers\u2019 Trust Fund to ensure utilization of coco levy funds for the well-being and empowerment of the coconut farmers.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— President Rodrigo R. Duterte called out the state-owned Land Bank for having turned into a \u201ccommercial bank\u201d when it …<\/p>\n","protected":false},"author":33,"featured_media":222532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,16,95],"tags":[],"class_list":["post-223953","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headline","category-news","category-news-ph","mauthors-azer-parrocha","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/223953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=223953"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/223953\/revisions"}],"predecessor-version":[{"id":223954,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/223953\/revisions\/223954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/222532"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=223953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=223953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=223953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}