The Philippines has signed the previously announced $370-million loan agreement with the World Bank, aimed at facilitating individual titling of lands to Comprehensive Agrarian Reform Program beneficiaries.
It added that the government has redistributed about 4.8 million hectares of land to some 2.8 million ARBs under the agrarian reform program, but only 53 percent were in the form of individual land titles. “Through the project, ARBs will be provided security of tenure by way of issuance of individual titles. If ARBs or members of their family fall ill, clear and valid documentation of their property will allow them to mortgage their land, sell, or pass it on to their family members through inheritance,” it said.
Dominguez, for his part, stressed the project “will improve the bankability of farmers and enable them to access credit and government assistance.”
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