P4.5-B calamity loans for quake victims

Rappler.com

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Pag-IBIG urges members affected by the recent earthquake in Central Visayas to obtain calamity loans from the fund

FOUR-LETTER WORD. A 'Help' sign is seen while Filipino children play outside their makeshift tents in rice fields drive following a 7.2-magnitude earthquake in Calape, Bohol, Philippines, 16 October 2013. EPA/Dennis Sabangan

MANILA, Philippines – Victims of the magnitude 7.2 earthquake that hit Central Visayas on Tuesday, October 15 may get assistance from the Pag-IBIG Fund, which set aside P4.5 billion for calamity loans.

Vice President Jejomar Binay, chairman of Pag-IBIG and the Housing and Urban Development Coordinating Council, said Pag-IBIG members affected by the powerful quake may avail of calamity loans at 5.95% annual interest, payable in two years.

Gamitin po ninyo ang benefits ninyo (use your benefits),” he encouraged members in a statement on Thursday, October 17.

Binay, who visited the hardest hit provinces of Bohol and Cebu on Thursday, said the fund also imposed a 3-month moratorium on payments for existing loans.

The vice president ordered the deployment of roving Pag-IBIG offices in the affected areas so members can avail of assistance easily.

He said concerned government agencies will help resettle families who lost their homes. The National Housing Authority will provide P5,000 worth of materials for residents, whose houses were partially damaged, he added.

The quake struck Central Visayas past 8 am Tuesday, triggering landslides, ripping apart bridges and tearing down centuries-old churches.

As of Thursday, the death toll from the disaster stood at 158, while 374 people were reported injured. Most of the deaths were reported in Bohol, where the epicenter of the quake was located.

The National Disaster Risk Reduction and Management Council said 3.4 million people in Central Visayas were affected by the earthquake. – Rappler.com

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