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Landbank releases P16.3 billion to 3.7million Social Amelioration Program beneficiaries

To support families and communities severely affected by the COVID-19 pandemic, the Land Bank of the Philippines (LANDBANK) has started releasing cash grants totaling P16,347,295,950.00 to 3,721,826 Conditional Cash Transfer (CCT) household-beneficiaries nationwide through the national government’s Social Amelioration Program (SAP) intended for the purchase of basic food, medicine, and toiletries.

Of the P16.34 billion total amount, P6.05 billion has already been credited to their LANDBANK Cash Cards Friday (April 3, 2020) for 1.19 million beneficiaries covering NCR, CAR, Regions I, II, III, IV-A, and ARMM.

Meanwhile, LANDBANK will credit P5.26 billion-worth of cash grants on Saturday (April 4, 2020) for 1.29 million beneficiaries in Regions IV-B, V, VI, VII, and IX, while the remaining balance of P5.01 billion cash grants will be released on Sunday (April 5, 2020) to 1.23 million beneficiaries in Regions VIII, X, XI, XII, CARAGA and all other regions.

“We want to ensure that social protection programs reach our most vulnerable sectors during this crisis the soonest time possible. Through our LANDBANK Cash Cards, we are delivering financial assistance in an immediate, safe, secure, and convenient manner,” said LANDBANK President and CEO Cecilia C. Borromeo. LANDBANK’s release of the cash grants is in support of Joint Memorandum Circular No. 1, Series of 2020, which specifies the guidelines for the provision of social amelioration measures by the Department of Social Welfare and Development (DSWD), Department of Labor and Employment (DOLE), Department of Trade and Industry (DTI), Department of Agriculture (DA), Department of Finance (DOF), Department of Budget and Management (DBM), and Department of the Interior and Local Government (DILG) to the most affected residents of the current national health and economic emergency.

The provision of SAP forms part of Republic Act No. 11469 or the “Bayanihan to Heal as One” Act, which greenlights urgent measures to combat COVID-19.

The beneficiaries may withdraw from the 2,196 LANDBANK ATMs available nationwide, and the more than 20,000 ATMs of Bancnet-member banks free of charge. They may also use their LANDBANK Cash Cards to purchase goods from groceries and drugstores or withdraw money from LANDBANK's partner Cash-out Agents.

For more updates, please follow, like, and share the official LANDBANK social media accounts—for Facebook and Instagram: @landbankofficial, and for Twitter: @LBP_Official, and the LANDBANK website: www.landbank.com.

Topics: COVID-19 pandemic , Land Bank of the Philippines , Conditional Cash Transfer
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