LAND BANK of the Philippines (LANDBANK) has approved the release of P14 million to help the recovery of 130 local government units (LGUs) in Luzon and Visayas hit by severe tropical storm Trami (Kristine).
“This funding provides critical support for our LGU partners to augment their Calamity Funds and sustain vital services for evacuees. As recovery timelines remain uncertain, LANDBANK is committed to helping LGUs respond swiftly and effectively to the needs of their communities,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz said in a statement on Wednesday.
The state-run lender is also offering financial assistance to affected micro, small, and medium enterprises, cooperatives, large corporations, and electric distribution utilities through the LANDBANK CARES Plus (Community Assistance and Reintegration Support Plus) lending program.
Meanwhile, LANDBANK has waived servicing fees for the Electronic Salary Loan (eSL) until Dec. 31, 2024.
The program provides quick funds for government and corporate employees with LANDBANK payroll services.
“Existing eSL borrowers may also apply for early renewal if they have completed at least one month of paid amortization,” the lender added.
LANDBANK credit cardholders may also convert available credit limits into emergency cash, repayable up to 36 months through the EasyCash for Emergencies feature. – Aaron Michael C. Sy
