LAND BANK OF THE PHILIPPINES (LBP)
1598 M.H. Del Pilar corner Dr. J. Quintos Streets, Malate, Manila
Program Title: ACCELERATING CHANGE IN THE COUNTRYSIDE THRU EQUITY SHARING STRATEGY (ACCESS)
Program Objective: To catalyze countryside development by promoting livelihood and rural employment, and by priming up local agri-related and off-farm economic projects to raise productivity and income in priority areas of the country.
Program Components:
* Equity Investment
* Provision of Professional Management Team
* Technology Transfer and Marketing Assistance
* Equity Divestment
Eligible Partners:
* Cooperatives/Federations;
* Farmers and Fisherfolk;
* Non-Government Organizations (NGOs);
* Private Entrepreneurs;
* Local Government Units (LGUs); and Other interested investors.
* Partners should have no adverse CI/BI reports.
Eligibility Requirements:
* Agri-related and off-farm economic projects
* Located outside National Capital Region (NCR) and Metro Cebu; however, projects located inside the mentioned areas may be considered if raw materials are sourced from outside the said places.
* IRR of at least 12%
* At least four stockholders (including Landbank)
Equity Investment Features:
Loan Amount: Minimum of P1.0 Million; LBP Equity investment shall neither exceed P20.0 Million nor 35% of the total subscribed capital stock or 35% of total voting stock in a single enterprise, whichever is lower; provided that the total government equity shall not exceed 49% and foreign equity shall not exceed 40%. Investment shall be in Preferred Shares with voting power.
Dividend Rate: Entitled to cumulative dividends (including undeclared/ unpaid dividends for the prior year/s), Dividend Rate based on 91-day T-Bill rate computed at the end of the calendar year.-46-
Divestment:
* Shall be sold or redeemed at par value within a period of 15 years based on a schedule formulated by the Board of Directors considering the cash flow of the project.
* The corporation shall establish a sinking fund to ensure the redemption of Landbank shares.
Contact Details:
Programs Management Department I (PMD I)
Phone: (632) 522,0000 (632) 551,2200 locals: 2376; 2307; 2384 ; (632) 405.7427
Fax: (632) 528.8542
E-mail: ddomingo@mail.landbank.com;
hbautista@mail.landbank.com
