Share this on:
About this iReport
  • Not vetted for CNN

  • Click to view carlosnoypi's profile
    Posted December 5, 2013 by
    Iloilo, Philippines
    This iReport is part of an assignment:
    Typhoon Haiyan: Your stories

    carlosnoypi and 14 other iReporters contributed to Open Story: Typhoon Haiyan's impact
    More from carlosnoypi

    Gov't banks' loan packages available to LGUs, victims

    Iloilo CITY, (Dec. 5) PIA6. Government-banks have ready packages of assistance to local government units, business communities and clients affected by super typhoon Yolanda.
    Local Government Secretary Mar Roxas said President Benigno S. Aquino has directed Development Bank of the Philippines and Land Bank of the Philippines to provide packages that will help rebuild public infrastructure and give relief for those who have outstanding loans as part of the continuing efforts of the government to fast track the restoration of economic activities in typhoon affected areas.
    “The President has instructed DBP to provide long term low interest loans and packages where LGUs that have outstanding loans can have moratorium of payment for their loans,” said Roxas.
    He said the same instruction was given to Landbank during the Regional Disaster Risk Reduction and Management Council meeting held in this city, December 4.
    In a press report, Landbank said it has earmarked P30 billion to help victims recover from destruction brought about by natural calamities through its LANDBANK Calamity Rehabilitation Support (CARES) program in support of the government’s effort to restore economic and social activities and accessibility in calamity-affected areas.
    Under the program, existing and new customers may avail of loan restructuring and rehabilitation credit programs. Eligible borrowers include LGUs, home buyers, small and medium enterprises, cooperatives and NGOs, and countryside financial institutions.
    On the other hand, DBP has also released P10 billion through its National Rehabilitation Fund for Calamity Stricken Areas, also, in support of the national government efforts to speed-up the economic recovery of the calamity stricken areas in Visayas, according to a press release posted on its website.
    The assistance is available for eligible existing DBP clients/borrowers in the form of deferment/moratorium of payment of loans, amortization, restructuring of accounts, additional loan and condonation o condonable charges.
    Assistance will also be granted to new clients to rehabilitate and restructure their businesses.
    Before the meeting, Roxas who was with
    Social Welfare and Development Secretary Dinky Soliman and Defense Secretary Voltaire Gazmin visited Estancia, Iloilo, to inspect the oil spill caused by a power barge damaged during the onslaught of typhoon Yolanda. (JCM/LAF/PIA6)

    What do you think of this story?

    Select one of the options below. Your feedback will help tell CNN producers what to do with this iReport. If you'd like, you can explain your choice in the comments below.
    Be and editor! Choose an option below:
      Awesome! Put this on TV! Almost! Needs work. This submission violates iReport's community guidelines.


    Log in to comment

    iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.

    Add your Story Add your Story