DSWD releases P100-M standby fund

MANILA, Philippines – The Department of Social Welfare and Development (DSWD) yesterday released over P100 million worth of standby funds and emergency relief resources for provinces hit hard by typhoon “Frank” (international codename Fengshen) last weekend.

In a statement, Social Welfare Secretary Esperanza Cabral said as of yesterday, the DSWD had readied some P31.16 million in standby funds and stockpile of relief commodities worth P64.94 million to be distributed to all concerned DSWD field offices.

Cabral said the DSWD has also released an additional P2-million standby fund for DSWD field offices in Regions 6, 7, and 12 for the purchase of emergency relief supplies and other expenditures for the ongoing disaster relief operations.

She said the agency has also released P7.87-million worth of relief augmentation support to Regions 3, 5, 6, 9, 11, 12 and the National Capital Region.

According to Cabral, a total of P17. 1 million has been used to assist typhoon victims in the NCR, Regions 1, 3, 4-A, 4-B, 5, 6, 7, 8, 9, 10, 11, 12, 13 and the Autonomous Region in Muslim Mindanao.

Frank hit several parts of the country over the weekend, killing more than 400 and leaving up to P5.513-billion worth of damages in infrastructure and agriculture.

Meantime, the Pag-IBIG Fund has also allocated P1.5 billion for calamity loan applications of members who were affected by typhoon Frank.

Vice President and Pag-IBIG Fund board chairman Noli de Castro directed the Fund to expedite the processing of applications for calamity loans, if possible within one day from filing.

The loan is open to any active Pag-IBIG member who has made at least 24 monthly contributions and who resides in any of the areas declared to be under a state of calamity.

Members with outstanding Multi-Purpose Loans (MPL) may still borrow under the program.

To optimize assistance, a qualified member can borrow as much as 80 percent of his Pag-IBIG savings, comprising his personal contributions, the employer counterpart savings as well as the dividends earned.

The loan will be released to the member and will be paid over a period of 24 months.

As an additional relief, a borrower is given a five-month grace period before he starts paying the loan.

Members who will apply for the loan are advised to file their applications with the Pag-IBIG branch where their contributions are remitted within 90 days from the occurrence of the calamity.

The Pag-IBIG Fund Calamity Loan Program is an ongoing scheme made available to Fund members to assist them in rebuilding their lives after a calamity.  With Pia Lee-Brago