Public Works and Highways Secretary Mark A. Villar and Land Bank of the Philippines (LBP) President and Chief Executive Officer Cecilia C. Borromeo signed on Monday, October 14, 2019 a memorandum of agreement (MOA) which seeks to expedite the appraisal activities on right-of-way (ROW) claims.
According to Secretary Villar, Landbank will provide DPWH with the technical assistance in conducting property appraisal to determine the market value of parcels of land, structures, and crops and trees affected by infrastructure projects.
The MOA made it easier for DPWH to request from Landbank the appraisal of ROW claims since payment can be made upon completion and issuance of the certification by implementing offices, which is expected to be rendered within ten (10) days upon receipt of request.
“Processing ROW acquisitions is one of the most critical parts in the undertaking of our projects under Build, Build, Build Program” said Secretary Villar.
“With this partnership, we will be able to implement time and cost-efficient projects, infrastructure including those farm-to-market and coastal roads, in support to Landbank’s vision of inclusive growth by serving the needs of farmers and fishermen,” added Secretary Villar.
The Right of Way Act of 2016 or Republic Act No. 10752 requires implementing agency of infrastructure projects like DPWH to engage the services of a government financial institution with adequate experience in property appraisal such as Landbank.
The MOA signing was also witnessed by Assistant Secretary for the Office of the Secretary and Special Concerns Eduardo S. Ramos, Jr., Assistant Secretary for Regional Operations in Mindanao Maximo L. Carvajal; Landbank Executive Vice President for Corporate Services Sector Julio D. Climaco Jr., and Assistant Vice President for Property Valuation & Credit Information Department Buenaventura R. del Rosario.