LANDBANK offers assistance programs in aid of Marawi rehabilitation

Friday, February 2, 2018

(Top Photo, left) LANDBANK President and CEO Alex V. Buenaventura talks about the Bank’s assistance programs to support the rehabilitation of Marawi, including its CAlamity REhabilitation Support (CARES) for Marawi and HARVEST financing programs. The Bank also donated a total of P15 million to the Province of Lanao del Sur and the City of Marawi to help in their rehabilitation efforts. (Top photo, right) President Rodrigo Roa Duterte witnesses the ceremonial turnover of water filtration systems to Marawi Mayor Majul Usman Gandamra. LANDBANK, in partnership with Waves for Water Philippines, distributed 60 water filtration systems to select barangays in Marawi (lower left photo). The Bank also donated books to Marawi elementary schools to help children recover from the trauma of war.

In support of the government’s recovery and rehabilitation efforts, LANDBANK has made available a lineup of assistance programs to help survivors of the armed conflict get back on their feet.

During the recent turnover of transitional homes built for affected families in Sagonsongan, Marawi led by the Housing and Urban Development Coordinating Council, LANDBANK President and CEO Alex V. Buenaventura underscored LANDBANK’s commitment to help restore normalcy in the lives of Marawi residents by providing access to financial and other assistance programs.

LANDBANK CARES for Marawi

Foremost among these financial assistance programs is the LANDBANK Calamity Rehabilitation Support (CARES) Program for Marawi and other LGUs in Lanao del Sur, through which existing clients may avail of loan restructuring while new clients may avail of loans at a lower interest rate and with longer payment tenor.

Short-term loans of existing clients may be extended up to a maximum of five years, inclusive of one-year grace period on both principal and interest. Term loans may in turn be extended for an additional five years over the remaining term of the loan, with maximum grace period of three years on principal and one year on interest.

Meanwhile, new clients may avail of loans to finance various projects, such as the construction or repair of housing units for war-affected home owners. Special credit programs will also be available for Cooperatives, Small and Medium Enterprises, Non-Government Organizations, Countryside Financial Institutions, Schools, Universities, and Colleges, and LGUs.

HARVEST Program

Another program that the Bank offers is the HARVEST (Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation) Program, which will provide concessional loans to agribusiness enterprises, farmers’ cooperatives, MSMEs, and similar organizations for their capital investments, operations, expansion initiatives and agriculture-related projects.

A ‎Php1.76 billion official development assistance from the Japan International Cooperation Agency, the program will help create more investments and jobs in Marawi and other conflict-affected areas in Mindanao.

Other Assistance Programs

With access to potable water another challenge for displaced Marawi residents, the Bank turned over 60 units of water filtration systems to select barangays to benefit around 6,000 residents. These portable water filtration systems can filter up to 1,000,000 gallons of water and can last for five to 10 years.

More than 700 books were also distributed to help Marawi children recover from the trauma of war.

The Bank likewise donated a total of P15 million to the Provincial Government of Lanao del Sur and the City Government of Marawi to augment their funds for rehabilitation.

“While we each do our part to contribute to the Bangon Marawi program, now is the time for us to truly come together and unify our efforts to ensure the effective implementation of recovery programs,” Buenaventura said.