Binay asks Pag-IBIG to extend loans to typhoon victims

SANTIAGO CITY, Philippines – Members of the state-owned Pag-IBIG Fund affected by typhoon “Juan” can now look forward to availing themselves of emergency loans to somehow alleviate their plight after the calamity.

Vice President Jejomar Binay, in his visit here the other day, especially in Isabela’s typhoon-hit areas where he distributed relief goods and building materials, said he has asked the Pag-IBIG Fund to utilize part of its calamity fund for loans to its typhoon-affected members.

Besides Ilagan, the capital town, Binay, accompanied by Gov. Faustino Dy III, also visited some of the typhoon-hit towns such as San Pablo, Tumauini, Delfin Albano, and Cabagan, where he hails from.

The Philippine Information Agency quoted Binay as saying they were thinking of extending moratorium on loan payments by Pag-IBIG members from areas heavily devastated by the typhoon like Isabela and other parts of northern and central Luzon. 

Binay, the PIA said, had also asked the Pag-IBIG Fund to ensure the immediate processing of loan applications of calamity victims from these areas. 

The PIA-Isabela added that Binay also asked concerned government agencies to extend interest-free P10,000 calamity loans to each family of overseas Filipino workers from the typhoon-affected areas, especially those placed under a state of calamity like Isabela. 

In partnership with the provincial government and Pag-IBIG, Binay said resettlement areas safe from the onslaught of typhoons will be put up in Isabela’s Pacific coastal towns of Palanan, Maconacon and Divilacan.

“The (construction) of houses for displaced (families) will be financed by the Pag-IBIG with the provincial government providing lots for resettlement sites as counterpart,” he said.

President Aquino, in his visit here three days after Juan battered Cagayan Valley, said he would also consider granting a moratorium on the loan payments of typhoon-hit farmers.