LANDBANK distributed a total of P15 million cash assistance to local government units in North and Central Luzon affected by Typhoon Lawin (international name: Haima) that battered the northern part of the country last month. Record from the National Disaster Risk Reduction and Management Council showed that the typhoon left 14 dead and P2.7 billion damage in infrastructure and P1 billion in agriculture.
Led by Branch Banking Sector Head/Senior Vice President Liduvino Geron and North Luzon Branches Group Head/Vice President Nomerlito Juatchon, LANDBANK turned over the cash assistance in ceremonies held in Ilagan, Isabela and Tuguegarao City on November 16 and 17, respectively.
Isabela, which was placed under state of calamity, received a total of P2.2 million divided among its 34 cities and municipalities, where 20,825 families were affected by the typhoon.
Among the local chief executives who attended the turn-over ceremony in Isabela was Palanan Mayor Rodolfo Bernardo Jr. whose town suffered severe damage from the typhoon.
"Ang damage po sa Palanan ay halos 70% po sa kabahayan at almost 100% sa mga pananim. At sa infrastructure, 70% din ang nasira. Kaya labis po ang pasasalamat namin sa LANDBANK sa financial assistance na ito na ipamimigay rin namin sa mga nasalanta naming kababayan,” Bernado said.
LANDBANK also conducted a turn-over ceremony at the Provincial Capitol of Cagayan in Tuguegarao City to hand over the P3.125 million cash assistance to the province, which was directly hit by the typhoon and suffered the heaviest damage from Lawin.
“Lawin ang worst na bagyo na dumating dito sa Solana, Cagayan kasi almost 80% ng infrastructures at agricultural land namin ay totally or partially damaged,” said Solana Mayor Jennalyn Carag who personally received the financial assistance for her municipality.
Cagayan, where Tyhoon Lawin made landfall and damaged a total of 28,429 houses, was also declared under state of calamity.
“We are grateful to LANDBANK for the financial assistance. Right now, every peso counts,” Office of the Governor Chief-of-Staff Atty. Ma. Rosario Villaflor said.
LANDBANK allocated P4.025 million for the Cordillera Administrative Region; P3.725 million for Region I; P6.25 million for Region II; and P1 million for Region III. The cash assistance for other provinces, which was divided among affected towns and cities based on the reports submitted by the regional Office of the Civil Defense, was distributed through LANDBANK branches in the region.
“This is part of LANDBANK’s commitment to be there not only for our clients but most importantly to our fellow Filipinos, especially in times of calamities,” Geron said.
LANDBANK CARES
Aside from relief operations and financial assistance for affected communities, LANDBANK also has an existing program specifically designed to help calamity-affected areas.
LANDBANK Calamity Rehabilitation Support (CARES) is the Bank’s umbrella financial assistance program to help victims recover from destruction brought about by natural calamities.
Under the program, both existing and new clients may avail of rehabilitation credit programs for acquisition or repair of new facilities or equipment, additional working capital or for livelihood financing.
Existing customers may also avail of loan restructuring wherein short terms loans may be extended up to a maximum of three years, inclusive of a maximum of one-year grace period on principal payment. For term loans, tenor can be extended for additional three years over the remaining term of the loan at the time of calamity, with a maximum grace period of three years on principal payment.