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LANDBANK brings banking services closer to more Filipinos in remote areas

As part of its aggressive thrust to promote greater financial inclusion, the Land Bank of the Philippines (LANDBANK) continues to expand its Agent Banking Program to bring basic banking services in remote and unbanked communities of the country. The program is now being implemented in 14 provinces in Luzon, Visayas and Mindanao through 820 Point-of-Sale (POS) terminals. These provinces include Cagayan, Pangasinan, Tarlac, Rizal, Batangas, Palawan, Occidental Mindoro, Quezon, Aklan, Guimaras, Capiz, Cebu, Misamis Oriental and Agusan del Norte.                         Under the agent banking strategy, the Bank enters into an agreement with POS Cash Out-Only Partners to facilitate cash out transactions and with full-suite Agent Banking Partners to offer card sale, cash in, cash out, fund transfer and bills payment. Through the LANDBANK Agent Banking Program, customers in places without formal banking presence can enjoy lower transaction costs, improved access to financial services and potentially save on travel and related expenses. Beneficiaries of the national government’s Conditional Cash Transfer (CCT) and Unconditional Cash Transfer (UCT) programs can also withdraw their cash grants through the LANDBANK agent partners. From January to April 2020, a total of 1.16 Million transactions amounting to P4.77 Billion were completed via full-suite Agent Banking Partners and POS Cash Out-Only partners. This is an increase of 235% in volume from 346,320 transactions and 190% in amount from P1.646 Billion processed in the same period a year ago. “The LANDBANK Agent Banking Program allows the Bank to better serve its mandated sectors especially from remote areas where financial services are inaccessible. With the help of our agent partners across the country, we are bringing more Filipinos into the financial mainstream, thus, promoting greater financial inclusivity,” LANDBANK President and CEO Cecilia C. Borromeo said. At present, LANDBANK is working on expanding the features of the program to enable its beneficiaries to pay their loan amortization. The Bank also plans to increase the number of its agent partners, particularly from unbanked and underserved areas, to widen its reach and bring basic banking services closer to more Filipinos. Before this year ends, LANDBANK targets to get 16 new direct Agent Banking Partners on board, convert 64 eligible POS Cash-Out Only Partners into full-suite Agent Banking Partners, and accredit 200 new full-suite Agent Banking Partners in locations with high number of CCT beneficiaries. The LANDBANK Agent Banking Program is in accordance with the Bangko Sentral ng Pilipinas (BSP) Circular No. 940 series of 2017 wherein banks are now allowed to serve clients through cash agents contracted to perform selected banking services on its behalf in order to exponentially expand reach and serve clients more efficiently.

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CFIEP thru LANDBANK offers loan package for calamity-affected CFIs

The Countryside Financial Institutions Enhancement Program (CFIEP), a joint program of Bangko Sentral ng Pilipinas (BSP), Philippine Deposit Insurance Corporation (PDIC) and Land Bank of the Philippines (LANDBANK), is rolling-out a new lending program to assist Countryside Financial Institutions (CFIs) that have been affected by natural calamities, man-made disasters, pests and diseases, and viral infections or outbreaks, including the coronavirus disease (COVID-19) pandemic.     The Countryside Financial Institutions Enhancement Program – 2020 Calamity Assistance Program (CFIEP-2020 CAP) lending program will provide additional working capital to Cooperative Banks, Rural Banks and Thrift Banks. The credit assistance may augment liquidity of CFIs that are affected by extensions or defaults of its borrowers as a result of calamities/disasters/viral infections, and thereby encourage CFIs to continue lending, particularly to the agricultural sector.   “In the first three months of the year alone, our country has been hit by various calamities that have caused unfavorable outcomes to CFIs. We hope that the CFIEP2020 CAP will help them recover from the damages and disruptions in their operations, and enable them to restore operational cash flows, thus, allowing them to continue lending to small farmers,” LANDBANK President and CEO Cecilia C. Borromeo said.   The program will be made available by LANDBANK to eligible CFIs at an amount equivalent to 90% of their affected existing portfolio or P10 million per CFI, whichever is lower, provided that the loan amount does not exceed the CFI’s borrowing capacity, as per LANDBANK’s existing policy. The loan shall bear an affordable interest rate of 4.5% per annum, fixed for one (1) year and subject to annual repricing thereafter. The loan shall be payable up to a maximum of five (5) years, with up to one (1) year grace period on principal and interest payments.   The CFIs are also expected to relend the fund to their affected end-borrowers at concessional interest rates.    Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.  

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DOF, LANDBANK, BMFI extend psycho-social support to Marawi survivors

Over 2,000 internally displaced persons (IDPs) of the five-month-long Marawi siege that transpired exactly three years ago today, May 23, have been given psycho-social support (PSS) under the Gawad Angat BAYan (GABAY) Program, a corporate social responsibility (CSR) project of Land Bank of the Philippines (LANDBANK), funded by the Department of Finance (DOF) under the Kreditanstalt für Wiederaufbau-Interest Differential Fund (KfW-IDF).   Since the implementation of the program in January 2019, LANDBANK, as Program Manager, has partnered with Balay Mindanaw Foundation, Inc. (BFMI), as Program Implementer, to conduct various PSS activities that have so far benefited 1,673 internally displaced adults and 455 internally displaced children in ten (10) barangays and transitional shelters in Marawi City and Lanao del Sur. The PSS activity, dubbed as Mashwara Para Ko Kapamulong (Conversations for Healing), is designed to provide space for community sharing and community-building among IDPs and other individuals affected by violence. It also aimed to identify and prioritize issues within the communities, and come up with common hopes and possible actions to address the identified issues.   “The LANDBANK GABAY Program embodies the Bank’s commitment to help communities grow and recover. Since the implementation of the program in 2019, we were able to give hope to many of our brothers and sisters in Marawi City and Lanao del Sur, helping them rebuild their communities from the catastrophic impact brought about by the five-month-long siege in 2017,” LANDBANK President and CEO Cecilia C. Borromeo said. To continue the conversations with internally displaced adults, LANDBANK facilitated post-PSS activities, such as the Mashwara Corners, in partner-communities where participants shared their personal journeys since completing the Mashwara Para Ko Kapamulong activities. Meanwhile, for the internally displaced children, the Bank conducted a series of Children’s Festival which included games, storytelling and learning sessions. A unique feature of the PSS program is the incorporation of eco-therapy where LANDBANK mounted various workshops and hands-on trainings on natural farming to share and emphasize its importance as an introduction to a sustainable way of living and healing. As part of the main components of the GABAY Program, LANDBANK also held a series of trainings of trainers on PSS, with a total of 101 graduates. They eventually served as facilitators in the conduct of PSS activities and other interventions for the conflict-torn communities. The GABAY Program was also made possible in cooperation with Task Force Bangon Marawi (TFBM), LANDBANK Countryside Development Foundation, Inc. (LCDFI), and the local government and people of the Islamic City of Marawi.

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LANDBANK, DA distributes P993M in cash aid to small rice farmers

The Land Bank of the Philippines (LANDBANK), in partnership with the Department of Agriculture (DA), continued to distribute cash assistance to small rice farmers during the CoVid-19 pandemic, paying out a total of P993.15 Million to 198,630 farmer-beneficiaries. The one-time financial assistance of P5,000 each is granted to rice farmers tilling farms with areas of 0.5 to two (2) hectares under the DA’s Rice Farmer Financial Assistance (RFFA) program, and those tilling farms one (1) hectare or less, under the DA’s Financial Subsidy to Rice Farmers (FSRF) initiative. As of May 13, 2020, a total of 107,463 RFFA and 91,167 FSRF farmer-beneficiaries received their cash grants amounting to P537.315Million for RFFA and P455.835 Million for FSRF. The distribution of cash assistance under the RFFA and FSRF is expected to continue until June.   LANDBANK has partnered with various national government agencies for the distribution of the Social Amelioration Program (SAP) of the national government in support of the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act” to combat the CoVid-19 pandemic. For more updates, please refer to the official LANDBANK social media accounts on Facebook and Instagram (@landbankofficial) and on Twitter (@LBP_Official) or via the LANDBANK website (www.landbank.com).

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LANDBANK, DOLE ready cash aid for displaced OFWs due to COVID-19

In partnership with the Department of Labor and Employment (DOLE), the Land Bank of the Philippines (LANDBANK) is gearing up to distribute cash assistance to overseas Filipino workers (OFWs) who have been displaced due to the coronavirus disease (COVID-19) pandemic. Under the DOLE AKAP (Abot Kamay ang Pagtulong) for OFWs Program, around 135,720 displaced land-based and sea-based OFWs will each receive a one-time financial assistance of P10,000 or $200, or its equivalent currency in the host country. Beneficiaries are composed of about 85,720 on-site OFWs based abroad, and 50,000 repatriated OFWs or “Balik Manggagawa” already in the country. Through the LANDBANK Remittance System (LBRS) eligible repatriated OFWs from National Capital Region (NCR) will be able to claim their P10,000 cash aid from LANDBANK Branches free of charges via PESONet.    Meanwhile, the 85,720 OFWs based abroad will receive their cash aid from their respective Philippine Overseas Labor Offices (POLO) processed via LANDBANK’s Outgoing Telegraphic Transfer (OTT), free from bank commissions and cable charges. As of May 5, a total of 2,468 OFWs benefited, with total proceeds amounting to P24.68 million released by LANDBANK. “LANDBANK is closely working with DOLE in assisting our OFWs to weather work disruptions and circumstances brought about by the COVID-19 crisis. This means immediately delivering financial support to our OFWs, wherever they are in the world,” LANDBANK President and CEO Cecilia C. Borromeo said.   DOLE CAMP Update The AKAP for OFWs Program supplements DOLE’s COVID-19 Adjustment Measures Program (CAMP), wherein LANDBANK is also a distribution partner. The CAMP provides a one-time P5,000 financial support to employees of companies or business establishments that have adopted flexible work arrangements or temporary closure due to the current health adversity. As of May 5, NCR-based workers that benefited from the program has reached 18,222 totaling P91.11 million in cash grants released by LANDBANK under CAMP. LANDBANK supports national government agencies in the distribution of various social protection programs to sectors most affected by health and economic concerns caused by the COVID-19 pandemic. This is in line with LANDBANK’s designation as the disbursement arm of the Social Amelioration Program (SAP) of the government for the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” For details and updates, please refer to the official LANDBANK social media accounts  @landbankofficial (Facebook and Instagram), @LBP_Official (Twitter), and www.landbank.com.

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LANDBANK offers ‘study now, pay later’ program for private schools

The Land Bank of the Philippines (LANDBANK) is launching a new lending program to boost the capacity of private academic institutions to implement a ‘study now, pay later’ scheme for its students. Under the LANDBANK ACADEME (ACcess to Academic Development to Empower the Masses towards Endless Opportunities) Lending Program, LANDBANK has allotted a total program fund of P3-billion in credit support for private high schools, private technical and vocational education training institutions, as well as Higher Education Institutions (HEIs) such as colleges and universities, to provide continuing education to their students. The program offers ‘3-3-3’ features with a P3-billion-program fund in credit support, a very low fixed interest rate of only 3% per annum, and payable based on the maturity of the sub-promissory notes but not to exceed three (3) years. It forms part of LANDBANK’s social investment package to encourage students to pursue and finish their education. The LANDBANK ACADEME Lending Program is open to private/non-DepEd Junior/Senior High Schools with permit to operate by DepEd, as well as to private Technical-Vocational and Education Training (TVET) Institutions in partnership with and being regulated by the Technical Education and Skills Development Authority (TESDA). Eligible borrowers of the newly launched LANDBANK ACADEME Lending Program also include Private Higher Education Institutions (HEIs) such as Colleges and Universities with undergraduate programs authorized by Philippine Commission on Higher Education (CHED) and the HEIs are accredited by either any of the following: Philippine Accrediting Association of Schools, Colleges and Universities (PAASCU), Philippine Association of Colleges and Universities' Commission on Accreditation (PACUCOA), Association of Christian Schools, Colleges and Universities Accrediting Association Inc. (ACSCU-AAI) or Federation of Accrediting Agencies of the Philippines (FAAP). "Given the financial constraints brought about by the COVID-19 pandemic, LANDBANK is financing interventions to ensure that students will be able to enroll in school when classes finally resume. The LANDBANK ACADEME Lending Program supports the education sector in providing students greater access to quality education amid the health crisis we are all facing,” LANDBANK President and CEO Cecilia C. Borromeo said. The LANDBANK ACADEME Lending Program offers refinancing or rediscounting of promissory notes issued by the parents or benefactors of students for school loans. Eligible schools can borrow up to 70% of the sub-promissory notes on a per semester basis and subject further to a maximum amount based on the school’s net borrowing capacity. The loan will be released either in lump sum or staggered basis per semester, and will be directly credited to the deposit account maintained by the school with LANDBANK. The LANDBANK ACADEME Lending Program will be available until June 30, 2021. For details about the program’s features and application requirements, interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. For more updates, please refer to the official LANDBANK Facebook and Instagram accounts (@landbankofficial) and Twitter (@LBP_Official) or the LANDBANK website (www.landbank.com). Click here for more information  

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LANDBANK continues cash aid distribution to rice farmers amid COVID-19

The Land Bank of the Philippines (LANDBANK) has paid out over P308 million to over 60,000 farmer-beneficiaries listed under the Department of Agriculture’s Financial Subsidy to Rice Farmers (FSRF) initiative. LANDBANK said that as of April 22, a total of 61,564 rice farmers across 26 provinces have received financial assistance from this program. These farmers were largely affected by quarantine measures due to the COVID-19 pandemic. Small rice farmers tilling farms with an area of one hectare or less received P5,000 each through the existing LANDBANK SURE Aid (Expanded Survival and Recovery Assistance Program for Rice Farmers) and RFFA (Rice Farmer Financial Assistance) Cash Cards. LANDBANK is also preparing to release cash grants to more rice farmers covering 34 provinces nationwide pending the list of additional beneficiaries from DA. Farmer-beneficiaries will claim the cash subsidy over-the-counter from designated LANDBANK Branches. “We are in close coordination with the DA to supplement the income of our small rice farmers and their families the soonest possible time. This forms part of LANDBANK’s intensified support to the agriculture sector, which belongs to the most vulnerable sectors during this COVID-19 crisis,” said LANDBANK President Cecilia C. Borromeo. LANDBANK’s financial aid distribution is in support of the Social Amelioration Program (SAP) of the government for the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” For more updates, please refer to the official LANDBANK social media accounts on Facebook and Instagram (@landbankofficial) and on Twitter (@LBP_Official) or via the LANDBANK website (www.landbank.com).

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LANDBANK’s e-banking channels record usage surge in March

The electronic banking platforms of Land Bank of the Philippines (LANDBANK) registered a significant utilization jump in the month of March 2020 when the enhanced community quarantine (ECQ) against COVID-19 was first implemented in Luzon.  LANDBANK’s five major electronic channels recorded a 57.7% increase in volume of transactions facilitated as of end-March from end-February 2020. "Due to the COVID-19 pandemic, we are seeing an increased demand for LANDBANK’s electronic and digital financial services. LANDBANK remains committed towards serving our clients’ growing needs through innovative, accessible, and safe banking solutions, even during the ECQ period,” LANDBANK President and CEO Cecilia C. Borromeo said. The LANDBANK Electronic Modified Disbursement System (eMDS) for national government agency partners posted the highest utilization upsurge as of March, as volume of transactions grew by 94% from the previous month. The LANDBANK I-Access, which provides individual retail clients 24/7 online banking services, saw transactions rise by 52% as of end-March from end-February. Meanwhile, the LANDBANK We-Access, which caters to online banking needs of corporate clients, posted 62% more transactions as of March from the previous month. Providing convenient banking through smartphones, the LANDBANK Mobile Banking App also posted a 61% rise in transactions as of end-March from end-February totals.  Finally, the LinkBiZ Portal, LANDBANK’s online payment platform, facilitated 23% more transactions as of end-March over end-February. LBP President Borromeo continued to urge everyone to utilize LANDBANK’s digital and online banking services in the safety of their homes and make cashless payments as much as possible during this time. But with the greater use of e-banking channels, LANDBANK also advises its clients to remain vigilant against the increasing incidents of phishing and vishing (voice phishing)—an attempt to obtain a user’s username, password, savings account or credit card details by pretending to represent a legitimate website or recognized institution, either via online/email or over the telephone. To avoid becoming a phishing/vishing victim, LANDBANK clients are advised to check the URL carefully and not to open suspicious emails, links and attachments, especially from unknown senders. Likewise, it is important not to share username or log-in ID, password, card number, card expiry date, credit verification value (CVV), and one-time personal identification number (OTP) to unauthorized entities. LANDBANK will never ask for critical financial information of its clients over the telephone. For more updates, please follow, like, and share the official LANDBANK social media accounts—for Facebook and Instagram: @landbankofficial, and for Twitter: @LBP_Official, and the LANDBANK website: www.landbank.com.

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LANDBANK rolls out SAP, relief packages for Bayanihan Law with zero service/handling charges

The Land Bank of the Philippines (LANDBANK) supports government agencies in the distribution of various social protection programs to poor households most affected by the ongoing Enhanced Community Quarantine (ECQ) brought about by the COVID-19 threat.   In partnership with the Department of Social Welfare and Development (DSWD), LANDBANK released cash grants totaling P16.34 billion to 3,721,833 Conditional Cash Transfer (CCT) household-beneficiaries nationwide. The amount of P3,650 to P6,650 per beneficiary was credited to their LANDBANK Cash Cards.   Also together with the DSWD, the Department of Transportation (DOTr) and the Land Transportation and Franchising and Regulatory Board (LTFRB), LANDBANK started distributing to 18,602 Transport Network Vehicle Service (TNVS) drivers in the National Capital Region amounting to P 148.816  million with each driver receiving P8,000 to help tide them over in these difficult times.   Under the COVID-19 Adjustment Measures Program (CAMP) of the Department of Labor and Employment (DOLE), a total of P1.2 billion in financial assistance will be released to an initial batch of 250,000 beneficiaries from 2,773 private companies at P5,000 per worker. LANDBANK has already started releasing to the workers from the National Capital Region. It is also working with DOLE on the cash assistance for displaced land-based and sea-based OFWs due to COVID 19 pandemic under the DOLE AKAP for OFWs Program.   Meanwhile, through the Financial Subsidy to Rice Farmers (FSRF) of the Department of Agriculture (DA), LANDBANK has started releasing to 52,043 small rice farmer totaling P260.215 million at P5,000 per farmer.  LANDBANK will continue releasing to the remaining farmers in the coming days.   Likewise, the social amelioration funds from DSWD to local government units (LGUs) have already been released through LANDBANK to DSWD and the Bureau of Treasury (BTr) Regional Offices for release to the LGUs.   “LANDBANK is one with the national government in carrying out urgent measures to support our people as we collectively respond to the COVID-19 pandemic. This includes the immediate delivery of social protection interventions and much-needed financial relief during these difficult times,” LANDBANK President and CEO Cecilia C. Borromeo said.   LANDBANK also clarified that it is not charging or collecting any service or transaction fee in its SAP partnerships with the DSWD, DOTr, LTFRB, DOLE and DA. Aside from this, withdrawal in any LANDBANK Branch or ATM is free of charge. Likewise, online fund transfers thru InstaPay and PESONet are also free of charge during the ECQ period.   These LANDBANK programs were introduced in partnership with government agencies after it was designated as the disbursement arm of the Social Amelioration Program (SAP) of the government for the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.”   This is in compliance with Joint Memorandum Circular No. 1, Series of 2020, which specifies the guidelines for the provision of social amelioration measures, jointly issued by the Department of Social Welfare and Development, Department of Labor and Employment, Department of Trade and Industry (DTI), Department of Agriculture, Department of Finance (DOF), Department of Budget and Management (DBM), and Department of the Interior and Local Government (DILG).   Last month, LANDBANK rolled out relief packages to clients in the form of payment moratoriums. For credit cardholders and salary loan borrowers, as well as mortgage and housing loans, there is a 60-day grace period for payments falling due from March 18 to April 30, 2020, and a 30-day grace period for business loans and project finance loans for the same period. Loan amortizations of Agrarian Reform Beneficiaries were also granted a one-year moratorium.   For details and updates, please refer to the official LANDBANK social media accounts   @landbankofficial (Facebook and Instagram), @LBP_Official (Twitter), and www.landbank.com.

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LANDBANK launches loan program for enterprises, coops hit by COVID-19

The Land Bank of the Philippines (LANDBANK) is offering a new lending program to help Small and Medium Enterprises (SMEs), Microfinance Institutions (MFIs) and cooperatives recover from the adverse effects brought about by the coronavirus disease (COVID-19) pandemic. Through the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably-affected Enterprises by Covid 19) Lending Program, LANDBANK is providing assistance through credit and loan restructuring under more flexible terms and conditions. Interested SMEs, MFIs and Cooperatives may borrow up to 85% of their actual need for working capital, at an affordable interest rate of 5% per annum, payable up to a maximum of five years, with grace period on the principal payment.   I-RESCUE likewise offers restructuring of existing loan account via additional loan, extended repayment period, or through other means (or combination of means). The loan may be extended up to a maximum of 10 years, with up to 3 years grace period on principal and up to 1 year grace period on interest, depending on cash flow. “LANDBANK stands ready to respond to the financial needs of enterprises hardly hit by the COVID-19 pandemic for rehabilitation support. We hope that the I-RESCUE Lending Program will help restore economic and social activities in our country, especially in the countryside,” LANDBANK President and CEO Cecilia C. Borromeo said. The LANDBANK I-RESCUE Lending Program is in support of Republic Act No. 11469 or the “Bayanihan to Heal as One Act,” which ensures the provision of timely and affordable credit to sectors affected by COVID-19, including small farmers and fishers. Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000. Click here for more information.

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LANDBANK ensures social distancing as it distributes cash grants to 36,946 PUV drivers

The Land Bank of the Philippines (LANDBANK) today said it will implement additional measures to strictly enforce social distancing in its branches as it continues to release the P8,000 cash assistance to a total of 36,946 drivers of public utility vehicles (PUVs) in the National Capital Region (NCR). In a statement, LANDBANK said it is strictly observing social distancing inside and within the premises of its branches nationwide. The state-owned bank said it has already coordinated with the Land Transportation Franchising and Regulatory Board (LTFRB), concerned local government units (LGUs), and the Philippine National Police (PNP) for assistance in crowd management, and to help safeguard the welfare of its clients against the CoVid-19 pandemic. Likewise, LTFRB and LANDBANK said it will release to at least 500 beneficiaries per branch, per day, to control the queuing system and waiting time. The bank started distributing the cash grants last April 7, 2020. After the Holy Week, an unusually large volume of drivers rushed to LANDBANK branches to claim their cash grants, which is part of the social amelioration program (SAP) of the national government in line with the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.” The financial assistance is in partnership with the Department of Social Welfare and Development (DSWD) and the LTFRB for the distribution of emergency subsidy to qualified drivers of Transport Network Vehicle Service (TNVS), Public Utility Jeeps (PUJs), UV Express (UVs), Public Utility Bus (PUBs), Point-to-Point Bus (P2P), Taxi, School Transport, Tourist Transport, and Motorcycle (MC) Taxi.

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DOLE, LANDBANK hand out P1.2 billion to workers amid COVID-19 adversity

In partnership with the Department of Labor and Employment (DOLE), the Land Bank of the Philippines (LANDBANK) will distribute a total of P1.2 billion-worth of financial assistance to 250,000 workers under the COVID-19 Adjustment Measures Program (CAMP). The CAMP program supports workers affected by the adverse economic impacts brought about by the COVID-19 pandemic and forms part of the government’s Social Amelioration Program (SAP). Based on submissions received by DOLE from 2,773 private companies, LANDBANK will release a one-time financial aid of P5,000.00 each to an initial batch of 250,000 worker-beneficiaries—majority of which are based in the National Capital Region (NCR). Through the LANDBANK Remittance System (LBRS)/PESONet Facility, the financial assistance will be directly credited to workers’ existing LANDBANK account, other bank accounts, or through remittance partner Palawan Express for those without a deposit account. LANDBANK is waiving all fees and charges for the cash grant. “We understand how our workers, regardless of their employment status, are experiencing reduced incomes brought about by this health and economic adversity. Rest assured that together with DOLE, LANDBANK is committed to provide immediate financial access to our workers and their families during this critical time,” LANDBANK President and CEO Cecilia C. Borromeo said. Under the social amelioration interventions of Republic Act No. 11469 or the “Bayanihan to Heal as One Act,” LANDBANK serves as partner of government agencies in delivering social protection programs to households most affected by the COVID-19 pandemic. For more updates, please follow, like, and share the official LANDBANK social media accounts—for Facebook and Instagram: @landbankofficial, and for Twitter: @LBP_Official, and the LANDBANK website: www.landbank.com.

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