A centenarian Filipino World War II veteran finally received his Filipino Veterans Equity Compensation (FVEC) fund worth $9,000 or around P435,000 from the United States after 11 years of waiting, the Philippine Veterans Affairs Office (PVAO) announced Monday.

Placido Laureta, who had a rank of Private, accepted his FVEC fund along with his claims for disability benefits from the US Department of Veterans Affairs (USDVA). The fund was electronically credited to Laureta's bank account along with a letter mailed to him dated August 26, 2020.

The FVEC is a one-time, lump-sum payment given to eligible World War II Filipino veterans. 

The release of the FVEC fund was authorized by then US President Barack Obama when he signed the American Recovery and Reinvestment Act of 2009 on February 17, 2009. The payment is to be made through the USDVA from a $198 million appropriation established for the law's purpose.

According to the USDVA, Private Laureta initially filed his FVEC claim at the Manila Veterans Affairs Regional Office on March 23, 2009. 

"However, due to absence of a valid military service record from the National Personnel Records Center (NPRC) in St. Louis Missouri, his claim was denied. The service of the veteran was only verified and established on April 5, 2017," it said.

Lauerate was born on May 8, 1918 and originally hails from Umingan, Pangasinan. 

According to the PVAO, Laureta joined the Filipino resistance with American soldiers against the Japanese invaders during the World War 2. At the time, the Philippines was a colony of the United States.

Laureta was assigned with the Replacement and Casualty Battalion of the United States Army Forces in the Philippines – Northern Luzon (USAFIP-NL).

It served as replenishment troops for the guerrilla unit due to a high number of casualties in the numerous battles that they took part in Northern Luzon where General Tomoyuki Yamashita, of the Imperial Japanese Army, made his last stand.

Laureta served from December 12, 1944 to February 8, 1946, where he was honorably discharged.

Aside from claiming his FVEC fund, Laureta is also an active PVAO pensioner where he continuously receives the old age pension amounting to P20,000 and the Total Disability Pension amounting to P1,700 every month, according to the PVAO.

Laureta is a recipient of the US Congressional Gold Medal, the highest civilian honor given by the U.S. Congress to an individual or a group of people for significant contributions that helped shape American history. He was awarded the US CGM on January 9, 2020 in Lingayen, Pangasinan.