MANILA, Philippines –
Fully aware of the extent of damages brought by typhoon Milenyo and
the urgent need of members to rebuild their lives following its
aftermath, Vice President Noli ‘Kabayan’ De Castro ordered Pag-IBIG
Fund to fast track the processing of calamity loan applications of
members from typhoon-stricken areas in different parts of the country.
Vice President de
Castro, who is also the concurrent chairman of the Housing and Urban
Development Coordinating Council (HUDCC), announced his directive
after assessing the damages brought by Milenyo particularly to houses
severely affected by the storm.
“Tunay ngang
napakalaki ng pinsalang idinulot ng bagyong Milenyo hindi lamang sa
mga lalawigan at mga bayan kundi sa mga lungsod din, kabilang na dito
sa kalakhang Maynila. Dahil dito, dapat lang na mabigyan ng kagyat na
tulong ang ating mga kababayan. “
As of latest reports,
the provinces of Bataan, Cavite and Bicol and the cities of Muntinlupa,
Manila and Calamba, among other areas, have been declared under state
of calamity and thus, would authorize the release of funds for relief
and rehabilitation. More areas are expected to be declared under state
of calamity after the assessment of damages has been finalized.
The Vice President
advised Fund members to file their loan applications at the Pag-IBIG
office nearest them to avail of this benefit.
He also reminded
members that the calamity loan program may be availed only within a
period of 90 days from the occurrence of the calamity.
Pag-IBIG members can
avail of loans of up to 80% of their total savings. To qualify, they
must be residents of localities declared as calamity areas who have
paid at least 24 monthly contributions, and are active members at the
time of application. They must continue to remit their contributions
during the term of the loan. Also under the program, members with
existing multi-purpose loans can avail themselves of the assistance
but the outstanding MPL balance will be deducted from the proceeds of
the calamity loan, bearing an interest rate of 10.75 percent per annum
payable in 24 months exclusive of a grace period.
“Nais lamang ng
pamahalaan na makarekober agad at maibalik sa normal na pamumuhay ang
ating mga kababayan matapos ang bagyong nagdaan. Ang loan na ito ay
tiyak na makakapagtawid sa atin sa ganitong panahon ng pangangailangan.”
