PAG-IBIG Rolls Out Calamity Loans to Aid Mindanao Earthquake and Eastern Visayas Flood Victims

In a compassionate response to recent natural disasters, the PAG-IBIG Fund has announced the availability of calamity loans for members affected by the Southern Mindanao earthquake and Eastern Visayas floods. This initiative, declared on November 24, 2023, offers a beacon of hope to those grappling with the aftermath of these devastating events.

Providing Financial Relief in Times of Crisis
The calamity loan program by PAG-IBIG is a strategic move to provide financial assistance to its members who have suffered losses due to natural disasters. It is a testament to the organization’s commitment to serving its members in times of dire need. The loans are available to qualified borrowers who can apply within 90 days from the declaration of a state of calamity in their area. This time frame offers ample opportunity for victims to assess their needs and apply for the necessary support.

Historical Impact and Allocation of Funds
The scale of this assistance program is significant, with PAG-IBIG Fund’s Chief Executive Officer Marilene C. Acosta revealing that the agency has already released ₱2.48 billion in calamity loans. This substantial amount has aided 149,607 members in calamity-hit areas, demonstrating the fund’s substantial impact in providing timely and critical financial support.

Targeted Assistance for Specific Regions
The focus of the calamity loan initiative is on the victims of the Mindanao quake and the floodings in Samar, as well as the broader Eastern Samar region. The powerful Mindanao earthquake and the consequent flooding in Eastern Samar have caused considerable distress to the residents of these areas. By offering calamity loans, PAG-IBIG is directly addressing the financial challenges faced by these individuals, enabling them to begin the process of rebuilding and recovery.

The PAG-IBIG Fund’s calamity loan program is a shining example of how financial institutions can play a crucial role in disaster recovery efforts. By providing much-needed financial aid to those affected by natural calamities, the fund is not only helping its members to recover but also strengthening the resilience of communities against future disasters.