Abolish ko kayo! Duterte scolds Landbank in SONA for shunning farmers in favor big corporations like bankrupt Hanjin
President Rodrigo Duterte gave Land Bank of the Philipines until the end of this month to start lending to its supposedly target, farmers. In his State of the Nation Address, Duterte threatened to abolis Landbank led by president Cecilia Borromeo if it continued to focus on lending to big business while neglecting farmers’ credit needs. “You are supposed to fund the agricultural endeavours. Bakit wala? Bumalik kayo kung saan kayo dapat Helping the farmers. I will giveyou until the end of July,” said an exasperated Duterte.
In a press conference, Duterte complained that Landbank has not fulfilled its original mandate to “serve the banking needs of people who can barely negotiate with banks.” He urged Landbank to “serve the people” to the point of “going up to the mountains” to give the farmers cheap loans for their fertilzier and seeds.
Duterte has been criticizing Landbank since last year for prioritizing loans to giant corporations liem the bankrupt Hanjin