Pag-Ibig offers P1.5B in calamity loans

CEBU, Philippines - The Home Mutual Development Fund or Pag-Ibig Fund has allocated P1.5 billion for calamity loans for typhoon Ruby victims in areas declared as under the state of calamity.

Pag-Ibig-Visayas Vice President Victoria dela Pena said that the said amount is just initial and so far, around 200 members have either applied for calamity loan or housing renovation.

Dela Pena said that aside from this, they have also allocated P1.5 million as relief assistance in isolated barangays in all the affected areas including some islets in Cebu.

Pag-Ibig-VP for Mindanao Fermin Sta. Teresa during the Special Kapihan sa PIA yesterday said that this is an opportune time for Pag-Ibig members to avail of the housing loan as they have implemented the lowest interest rates at 6.985 percent per annum.

Meanwhile, the United States Embassy in Manila commended the Philippine government on its extensive preparations leading up to typhoon Ruby and its successful response in the wake of the storm.

 In a statement, the US-Embassy in Manila said that in close coordination with the Philippine government, the United States government, through the United States Agency for International  Development’s Office for Disaster Assistance, will provide aid for emergency humanitarian  assistance  amounting to $750,000 (P33,408,750).

It added that the U.S government, through USAID, continues to work closely with the Philippine government and communities in hazard-prone areas to better prepare for and respond to the effects of disasters.

In another development, the National Grid Corporation of the Philippines said that it targets to complete transmission line restoration before Christmas.

 “NGCP is fast-tracking the restoration of transmission lines and facilities affected by typhoon Ruby in the Visayas. We are targeting completion of restoration activities before Christmas,” said NGCP President and CEO Henry Sy Jr.

The target restoration date was determined after NGCP completed the assessment of its affected facilities through aerial inspection and foot patrol.

To expedite restoration, NGCP said, 36 line gangs —24 from Visayas, six from Mindanao, and three each from North Luzon and Southern Luzon— were mobilized to ensure that NGCP complies with the deadline set by the Department of Energy.

“We intend to restore our backbone lines within the week. All our remaining unrestored 69-kV lines in Leyte and Samar will be ready to transmit power to the different distribution utilities and electric cooperatives by December 25,” Sy added.

The system operator and power transmission service provider, however, clarified that the completion of restoration works will still depend on weather conditions prevailing in the area. Adverse weather may still hamper restoration activities and prevent them from meeting the deadline.

NGCP is a privately owned corporation in charge of operating, maintaining, and developing the country’s power grid. It transmits high-voltage electricity through “power superhighways” that include the interconnected system of transmission lines, towers, substations and related assets.  (FREEMAN)