The Market Monitor Minding the Nation's Business
The Land Bank of the Philippines (LANDBANK) and the Technical Education and Skills Development Authority (TESDA) renewed their partnership program to finance the livelihood needs of Technical Vocational Education and Training (TVET) graduates.
Initiated in 2019, the LANDBANK-TESDA partnership program was extended through a virtual signing of a Memorandum of Agreement (MOA) led by TESDA Director-General Secretary Isidro S. Lapeña and LANDBANK President and CEO Cecilia C. Borromeo on 15 February 2022.
“LANDBANK is fully committed to support TESDA graduates in taking the next steps in their employment journey by extending available credit facilities to help them establish their businesses,” said President Borromeo.
Under the Agreement, LANDBANK will offer credit assistance to eligible and TESDA-endorsed TVET graduates, Trainees’ Associations, and Trainees’ Cooperatives for their livelihood and business endeavors.
“I have no doubt that through this partnership, we shall be producing more entrepreneurs and creating more jobs, which shall ultimately lead to a revived economy,” said Secretary Lapeña.
The partnership program is part of LANDBANK’s thrust to generate more employment opportunities to spur the nation’s ongoing economic resurgence.
The collaboration will likewise facilitate capacity-building trainings to identified beneficiaries to improve their entrepreneurial skills and business competency, especially under the new normal.