Pag-ibig opens calamity loan facility to affected members

Pag-ibig opens calamity loan facility to affected members

PIA 2008/06/27

Iloilo City (27 June) -- Pag-IBIG Fund is now offering calamity loan for members residing in Panay who were affected by typhoon "Frank".

Pag-IBIG 6 Regional Manager Ma. Lourdes Uy said they have already started accepting applications from members whose areas have already been declared under the state of calamity since Tuesday.

The Regional Disaster Coordinating Council 6 reported that the provinces of Iloilo, Aklan, Antique and Capiz as well as Iloilo City have already been declared under the state of calamity by their respective local government units.

Uy said qualified members can borrow as much as 80 percent of their Pag-IBIG savings payable over a period of 24 months. Members with outstanding Multi-Purpose Loan can still avail of the loan.

To expedite the process, Uy advised offices and companies to assign an authorized person who would request for the forms and their respective Fund Coordinator to submit the applications directly to the nearest Pag-IBIG office.

Vice President and Pag-IBIG Fund Board Director Noli de Castro directed the Fund to expedite the processing of applications for calamity loans as part of the government's massive relief operations for the typhoon victims.

VP de Castro was in Iloilo last June 23 to assess the devastation caused by typhoon "Frank" that caused disastrous flood in the province.

Some P1.5 billion allocation was immediately approved by Pag-IBIG through its Chief Executive Officer Romero S. Quimbo for these calamity loans for typhoon victims in the Visayas region. (PIA)

Cabatuan.com - Timeline 2008 - Typhoon Frank