LBP, DBP to charge DA less on loan disbursements 0 SHARES Share it! Share TweetBy Madelaine B. MiraflorState-owned financial institutions Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) have cut the management fees they charge for processing three of the Department of Agriculture’s (DA) financial programs. The loss on the part of LBP and DBP and the gain on DA will be about ₱34 million, based on the latter’s estimate. Apparently, Agriculture Secretary William Dar made a request from Finance Secretary Carlos G. Dominguez III for LBP and DBP to reduce the fees they charge DA on processing and disbursing loans to farmer-clients under three financing programs. Under the RCEF, the ₱1-billion credit fund is equally shared by the LBP and DBP at ₱500 million each.

Source: Manila Bulletin December 09, 2019 13:52 UTC