The Land Bank of the Philippines has distributed intervention monitoring cards (IMCs) to a total of 235,145 beneficiaries nationwide as of end-June this year.
The IMC is to be used by beneficiaries in getting their P5,000 cash assistance under the Rice Competitiveness Enhancement Fund-Rice Farmers Financial Assistance (RCEF-RFFA) program.
Landbank said the rest of 110,600 IMCs will be distributed until the end of August.
“Together with the DA (Department of Agriculture), we will continue to ramp up the distribution of cash cards to help increase agricultural production and income,” said Lynette Ortiz, Landbank president and chief executive officer, in a statement.
The RCEF-RFFA Program offers financial support to smallholder rice farmers registered under the Registry System for Basic Sectors in Agriculture and who are cultivating rice lands measuring two hectares and below.
Landbank is the disbursing arm of the program as part of the implementation of the Rice Tariffication Law.
