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PIA Press Release
2009/10/30

LandBank assists Ondoy casualties

Davao City (30 October) -- LandBank undertook several measures to assist its clients that were adversely affected by typhoon Ondoy - farmers and fisherfolk cooperatives, small and medium enterprises, countryside financial institutions (CFIs), local government units (LGUs) and other loan clients.

These include the institution of remedial actions for its loan clients in the form of extension of maturity and/or refinancing and the facilitation of the release of guarantee claims under the Agricultural Guarantee Fund Pool.

The LandBank Lending Centers are assessing the extent of damages to the infrastructure and livelihood projects funded so they may work on appropriate restructuring of these affected accounts.

In line with the institution's Corporate Social Responsibility thrust, LANDBANK, in coordination with the Department of Social Welfare and Development, distributed relief goods to communities in heavily-affected areas like Pasig, Malabon, Pateros, Taguig, Rizal, Valenzuela, Caloocan, Muntinlupa and Las Piņas. Finance Secretary and LANDBANK Chairman Gary Teves, President and CEO Gilda Pico and Director Ombre Hamsirani led the distribution of more than 10,000 bags of goods filled with rice, canned goods, clothes, instant noodles and toiletries to affected victims.

"LandBank aims to help alleviate the misery of the victims of typhoon Ondoy. We are one with the National Government in its goal of assisting the affected communities and sectors so they may be able to recover from this calamity," said President Pico. (LBP XI) [top]

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