A lawmaker is pushing for an investigation into the loan practices of the Landbank of the Philippines (LBP) in the House of Representatives.
House Committee on Appropriations Vice Chairperson and Marikina Representative Stella Luz Quimbo has urged Landbank to improve transparency regarding its lending operations.
In her privilege speech, Quimbo highlighted that 61.38% of Landbank’s loans, amounting to over ₱694 billion, went to large corporations.
By contrast, only 0.09% or ₱1.07 billion of loans were allocated to farmers, with even smaller portions directed to cooperatives and small businesses.
Quimbo reminded that Landbank was established to serve marginalized sectors, including farmers, fisherfolk, and small entrepreneurs.
However, she noted that the bank appears to prioritize large corporations over the sectors it was meant to support.
The congresswoman revealed that multiple requests for loan data from Landbank were denied, raising concerns over the institution’s lack of transparency.
Quimbo called for the House Committee on Public Accounts to investigate whether Landbank is fulfilling its mandate or disadvantaging the public with its current practices.
She emphasized the public’s right to know how funds are spent, questioning why information about these processes is being withheld.
“It is the right of the people to know how their money is being spent. The lack of transparency in Landbank’s dealings with LGUs is a violation of the people’s right to information. We need a full inquiry into how these loans are contracted and utilized,” Quimbo said.
