Land Bank of the Philippines (LandBank) on Thursday said it set aside P30 billion from the Calamity Rehabilitation Support program (CARES) to help Filipinos rebuild their lives in the aftermath of natural calamities.
“Through this program, LandBank helps those gravely affected by typhoons, floods, earthquakes, and other calamities get back on their feet and rebuild their lives,” President Gilda Pico said in a statement.
Present and new customers can also take out rehabilitation credits under the program, with local government units, home buyers, small and medium enterprises, cooperatives and NGOs, and countryside financial institutions considered as eligible clients.
“Affected SMEs in need of additional working capital or financial assistance for repair of existing facilities and purchase or acquisition of new ones may avail of loans under the Landbank CARES Program-Kaagapay sa Negosyo at a fixed interest rate of 6 percent per annum,” the bank said. – VS, GMA News
source: gmanetwork.com
