Plantersbank has stepped up support for small and medium-scale agribusinesses in a move to help boost productivity and incomes in the Philippine countryside.
As small and medium-scale entrepreneurs integrate with the supply chains of leading food processing giants like San Miguel Purefoods Corporation (SMPFC), Plantersbank seeks to fill the gap in financing requirements of these specialized SMEs.
Recently, SMPFC and San Miguel Foods, Inc. (SMFI) tapped Plantersbank to provide financing for business expansion, facilities improvement and purchase of equipment by contract growers and distributors of the SMFI group which includes BMEG, SMFI-Agri and SMFI-Poultry.
Tito Tirones, Plantersbank senior vice president and head of the SME Banking Group said similar arrangements will enable Plantersbank to contribute to improving efficiency in the contract growing and food marketing sector to the benefit of consumers.
In southern Philippines, Plantersbank is helping banana growers sustain global competitiveness by financing the rehabilitation of plantations, expansion of facilities and acquisition of modern equipment.