The Land Bank of the Philippines (LBP) is extending P14 million in financial support to 130 local government units in Luzon and the Visayas affected by severe tropical storm Kristine (international name Trami).Â
LandBank said the cash donations would fund recovery efforts in affected communities.
“This funding provides critical support for our LGU partners to augment their calamity funds and sustain vital services for evacuees,” LandBank president and chief executive officer Lynette Ortiz said.
She added that the money is in addition to the P1.1 billion assistance the government extended to affected families, which the Presidential Communications Office (PCO) announced earlier.
“As recovery timelines remain uncertain, LandBank is committed to helping LGUs respond swiftly and effectively to the needs of their communities,” Ortiz added.
In addition to the donation to LGUs, LandBank, through its Community Assistance and REintegration Support Plus (CARES PLUS) lending program, is also offering financial assistance to affected businesses and sectors.
Eligible borrowers include micro, small and medium enterprises, cooperatives, large corporations, and electric distribution utilities.
LandBank’s Electronic Salary Loan (eSL) also offers quick funds for government and corporate employees with LandBank payroll services. The servicing fee for applications is waived until Dec. 31.
Existing eSL borrowers may also apply for early renewal if they have completed at least one month of paid amortization.
The bank also offers the EasyCash for Emergencies feature, which allows LandBank credit cardholders to convert available credit limits into emergency cash, repayable up to 36 months.
LandBank said eligible customers would receive a notification for activation or may request cash conversion directly.