PHILGUARANTEE holds Briefing, Thanksgiving lunch for Partner Institutions

The Philippine Guarantee Corporation (PHILGUARANTEE) last February 2023 hosted an appreciation lunch with the executives from select Rural Banks in Central Luzon, as a way of expressing its gratitude for their continuous partnership and cooperation.

Present in the appreciation lunch were PHILGUARANTEE President and CEO Alberto Pascual, together with Senior Vice President Emmanuel Torres and Vice President Teresito Butardo from the Agriculture Guarantee Group, and Business Operations Group Senior Vice President Nelia Oandasan and Vice President Alfonso Chino Argonza IV.

PCEO Alberto Pascual graced the occasion, who shared a sumptuous lunch at Binulo Restaurant in Clark Freeport Zone with Rural Bank of Angeles President Rainer Defante and Loans Head Edwin Verona, Rural Bank of Sta. Ignacia President Roman Belmonte Jr., Chief Operating Officer Philip Christopher Tongol, Accounting Head Erwin Rombaoa, GM Bank of Luzon Senior Vice President Chona Co, and Assistant Manager Maripen Cando.

New Rural Bank of San Leonardo Vice President Michael Mendoza and Director/Vice President Jubailene Bulawit, Rural Bank of Solano Assistant Vice President Jayson Acosta, and Manager Gene Baybayan also attended the event.

The meeting also served as a venue for PHILGUARANTEE to provide its partner lending institutions (PLIs) with updates on relevant systems and process improvements in the Agricultural Guarantee Fund Pool (AGFP) operations and has provided the opportunity for the PLIs to be updated on the status of their pending claims through engaging in one-on-one consultations.

As the administrator of AGFP, PHILGUARANTEE encourages lending institutions to extend unsecured agricultural production loans to small farmers and fisherfolks (SFFs) or their organizations. Eligible lending institutions include banks, cooperatives, farmers or people’s organizations other than cooperatives, non-government organizations, and corporations lending to SFFs.

In 2022, a total of 39,811 agri-based workers benefited from the AGFP with P4.83 Billion volume of loans guaranteed.

PHILGUARANTEE, the Principal Agency for State Guarantee Finance of the Philippines, is a product of the merger and consolidation of five Philippine guarantee programs and agencies directed under Executive Order No. 58, s. 2018 by the President of the Philippines.

From: Corporate Communications Department