THE Land Bank of the Philippines has entered into strategic partnerships with KITA Agritech Corp. and TAO Foods Co. Inc. granting small farmers with increased access to financial services and opportunities for modernization.
The bank said in a statement yesterday under the partnership, KITA Agritech and TAO Foods will provide necessary production, technical and marketing assistance to partner farmers and farmer organizations to create a framework that will encourage innovation by incorporating each company’s digital solutions.
In separate signing ceremonies last week, Land Bank president and chief executive officer Lynette Ortiz formalized the partnerships with KITA Agritech chief executive officer Carlos Miguel Concio and TAO Foods chairman Julio Sy Jr.
KITA Agritech will introduce the Digital Trading Post, which aims to improve inventory management and reduce operational farming costs associated with natural disasters and calamities.
Meanwhile, TAO Foods will introduce the Rice to Rise Program, which aims to supply farmers with 100 percent locally produced hybrid rice seeds that can potentially increase their yield to improve both productivity and profitability.
Land Bank will extend to eligible partners endorsed by the two companies the AGRISENSO Lending Program, which provides affordable financing to small farmers, Agrarian Reform Beneficiaries and the whole agriculture value chain, aimed at bolstering nationwide food security and sufficiency.
