LandBank is extending a total of P14 million in financial assistance to various local government units (LGUs) impacted by tropical storm Kristine, as part of ongoing initiatives to fast-track local recovery and rehabilitation.
The cash donation will support 130 LGUs across Luzon and Visayas, where communities face extensive damage from the recent tropical cyclone.
“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,” said LandBank president and CEO Lynette V. Ortiz.
The P14 million LandBank donation is in addition to the P1.1 billion assistance extended by the government to affected families, as announced by the Presidential Communications Office (PCO).
LandBank is likewise offering immediate financial assistance to affected businesses and sectors through the LANDBANK CARES Plus (Community Assistance and REintegration Support Plus) Lending Program to rebuild, restore operations, and recover from disaster-related losses. Eligible borrowers include micro, small, and medium enterprises (MSMEs), cooperatives, large corporations, and electric distribution utilities.
The state-run Bank’s Electronic Salary Loan (eSL) also offers quick funds for government and corporate employees with LANDBANK payroll services, with a waived servicing fee for applications until December 31, 2024. Existing eSL borrowers may also apply for early renewal if they have completed at least one month of paid amortization.
