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Manila Bulletin devider Business devider Landbank disburses ₱16.3 B cash aid

Landbank disburses ₱16.3 B cash aid

Published Apr 5, 2020 12:00 am
By LEE C. CHIPONGIAN State-owned Land Bank of the Philippines (Landbank) said it has started to pay out ₱16.3 billion of the government’s social amelioration fund to 3.7 million poor families all over the country. Landbank on Saturday disbursed cash grants worth ₱5.26 billion to 1.29 million household-beneficiaries located in Region IV-B (MIMAROPA), Region V (Bicol), Region VI (Western Visayas), Region VII (Central Visayas) and Region IX (Zamboanga Penisula). By Sunday, another ₱5.01 billion will be released to 1.23 million household-beneficiaries in Region VIII (Eastern Visayas), Region X (Northern Mindanao), Region XI (Davao), Region XII (SOCCSK¬SARGEN), CARAGA and all other regions. Landbank on Friday already released ₱6.05 billion financial assistance to 1.19 million household-beneficiaries in the National Capital Region, the Cordillera Adminis¬trative Region, Region I (Ilocos), Region II (Cagayan Valley), Region III (Central Luzon), Region IV-A (Calabarzon), and the Autonomous Region in Muslim Mindanao. Landbank President and CEO Cecilia C. Borromeo said over the weekend that the bank is delivering the cash grants amounting to ₱16,347,295,950 in an “immediate, safe, secure and convenient manner.” The exact total of beneficiaries is 3,721,826 Filipino homes affected by the COVID-19 pandemic and resulting lockdown. “We want to ensure that social protection programs reach our most vulnerable sectors during this crisis the soonest time possible,” said Borromeo. The financial assistance which is a conditional cash transfer (CCT) is accessed through Landbank cash cards. This Social Amelioration Program (SAP) of the government is only intended to help poor families to buy basic food, medicine, and toiletries. The SAP is part of Republic Act No. 11469 or the “Bayanihan to Heal as One” Act, which granted President Duterte emergency powers in the fight against the coronavirus outbreak. “The beneficiaries may withdraw from the 2,196 Landbank ATMs available nationwide, and the more than 20,000 ATMs of Banc¬net-member banks free of charge,” said Landbank. The bank’s cash cards can also be used as debit cards in groceries and drugstores. The Joint Memorandum Circular No. 1, Series of 2020, detailed the guidelines for the provision of social amelioration measures by the Department of Social Welfare and Development (DSWD), Department of Labor and Employment, Department of Trade and Industry, Department of Agriculture, Department of Finance, Department of Budget and Management, and Department of the Interior and Local Government.
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