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LANDBANK, GSIS aid PCIC investment overhaul.
The Philippine Crop Insurance Corporation (PCIC) is set to undergo a major investment overhaul with the help of the Land Bank of the Philippines (LANDBANK) and the Government Service Insurance System (GSIS).
The PCIC, which provides insurance coverage to farmers and fisherfolk, has been struggling financially in recent years due to low premiums and high claims. In order to address these issues, the PCIC has decided to revamp its investment strategy and seek the assistance of LANDBANK and GSIS.
Under the new investment plan, LANDBANK and GSIS will provide the PCIC with a total of Php 10 billion in funds. These funds will be used to invest in various financial instruments such as stocks, bonds, and other securities.
The PCIC hopes that this new investment strategy will help it generate higher returns and improve its financial standing. The funds provided by LANDBANK and GSIS will also help the PCIC expand its insurance coverage to more farmers and fisherfolk across the country.
LANDBANK and GSIS have expressed their commitment to supporting the PCIC in its efforts to improve its financial performance and provide better insurance coverage to the agricultural sector. They believe that the PCIC plays a crucial role in supporting the country’s agriculture industry and ensuring food security for all Filipinos.
The investment overhaul is just one of the many initiatives being undertaken by the government to support the agriculture sector. The Department of Agriculture has also launched various programs to provide financial assistance and technical support to farmers and fisherfolk.
With the support of LANDBANK and GSIS, the PCIC is poised to become a more effective and efficient provider of insurance coverage to the agricultural sector. This will not only benefit farmers and fisherfolk but also contribute to the overall growth and development of the Philippine economy.