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LandBank Garners International Accolades for Development Initiatives

LandBank
Land Bank of the Philippines (LandBank), a government-owned financial institution, has received two prestigious international awards from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP).

These awards recognize LandBank’s outstanding contributions to rural electrification and financial inclusion.

Recognition for Development Projects

LandBank‘s initiatives actively earned recognition in two categories at the annual ADFIAP Awards. The BRinging Inclusive Growth in every Household Through National Electrification Support Services (BRIGHTNESS) Lending Program received acclaim in the Infrastructure Development category, while the bank’s collaboration with ASA Philippines Foundation Inc. (ASA Philippines) garnered a Merit Award in Financial Inclusion.

Additionally, the BRIGHTNESS Lending Program is designed to enhance energy access in barangays (villages) across the Philippines, stimulating rural economic development by providing financing to distribution utilities and wholesale power aggregators. This initiative has facilitated the approval of loans totaling PHP13.7 billion, benefiting over 4.8 million households with reliable electricity as of March 31.

LandBank’s partnership with ASA Philippines has resulted in raising PHP5 billion through a syndicated corporate notes facility. These funds actively empower underserved women, particularly mothers, from economically disadvantaged backgrounds by providing accessible financing.

Moreover, the ADFIAP Awards commend member institutions for their significant contributions to national development. During the ADFIAP Sustainable Development Awards ceremony held in Phnom Penh, Cambodia, LandBank was presented with the awards.

In addition, ADFIAP officials, including Chairman Saud Minam and Vice Chairmen Kao Thach and Aria Putera Ismail, handed out the awards. LandBank’s Executive Vice President, Ma. Celeste Burgos, accepted the honors on behalf of the institution.

Commitment to Sustainable Development

Lynette Ortiz, LandBank’s President and CEO, expressed gratitude for the prestigious awards, highlighting the bank’s dedication to advancing sustainable and inclusive development. Ortiz emphasized LandBank’s ongoing commitment to empowering underserved communities, fostering economic growth, and improving the quality of life for its clients.

ADFIAP serves as a pivotal organization for development banks and financial institutions across the Asia-Pacific region. It works towards advancing sustainable development goals through collaborative efforts among its members.

Furthermore, LandBank’s recognition at the ADFIAP Awards underscores its pivotal role in driving positive change and socio-economic progress in the Philippines.

 

Read Also: Nine Philippine Banks Make it to Forbes’ Best in the World List

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Written by Marjo Piedad

Traveler | Foodie | CONTENT EDITOR
📍Cebu, Philippines
 
For features and advertising inquiries, please email  editor@proudlyfilipino.com.

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