Pag-Ibig grants calamity loan-A A +A
Friday, September 28, 2012
THE Home Development Mutual Fund or Pag-Ibig is giving financial assistance to its members affected by calamity through Pag-Ibig's calamity loan program in Zamboanga City.
The City Council, in an emergency session Monday night, has declared Zamboanga City under the state of calamity following a recommendation from the City Disaster Risk Reduction Management Council (CDRRMC).
Heavy rain and strong winds spawned by the southwest monsoon and induced by Tropical Storm Lawin battered this city from Friday until Monday killing a five-year-old boy and displaced more than a thousand families.
Corazon Mamauag, head of Pag-Ibig Marketing and Promotions Division, said the calamity loan is aimed to provide financial assistance to its members in calamity stricken villages.
The CDRRMC reported the hardest hit villages in the city are Vitali, Tictapul, Mangusu, Divisoria, Boalan, Tugbungan and Lanzones in the east coast and Labuan, Patalon, Baliwasan, San Jose Gusu, Sta. Barbara and Zone IV in the west coast.
Mamauag said the calamity loan is open to all Pag-IBIG members who has made at least 24 monthly contributions.
Also, he or she must be an active member at the time of application and is a resident of the declared calamity-stricken area, Mamauag added.
The loan is payable over a period of 24 months, with three months grace period and a yearly interest of 5.95 percent, she said. (Bong Garcia)