THE World Bank said it extended the closing date for the $370-million loan, which will help provide individual land titles to agrarian reform beneficiaries (ARBs), to 2027.
The Support to Parcelization of Lands for Individual Titling (SPLIT) project was restructured in December 2024 with a new closing date set on Dec. 31, 2027, according to a World Bank document uploaded on Feb. 10.
It also supports the parcelization or subdivision and titling of 139,000 Collective Certificates of Land Ownership Awards (CLOAs) into individual CLOAs.
“As of 15 Nov. 2024, a total of 124,556 Collective CLOAs are validated by the field validation teams. This represents an accomplishment of 125% surpassing the target of 80%,” the World Bank said.
However, 109,047 electronic individual titles, or only 15% have been issued out of the targeted 750,000 titles.
Meanwhile, out of the $370-million loan, $220.38 million remain undisbursed. — Aubrey Rose A. Inosante