Pag-IBIG Fund Loans w/ P716-Million Total Amount Granted To Members Amid COVID-19 Crisis
PAG-IBIG FUND LOANS – The Pag-IBIG Fund has released P716-million to help its members cope with the COVID-19 crisis.
The Philippines is on a national crisis now as it is one of the countries affected by the COVID-19 pandemic. More than 200 countries across the globe confirmed cases of this disease.
In PH, several areas are under an Enhanced Community Quarantine (ECQ) and a General Community Quarantine (GCQ) now. Amid the widespread community quarantine measures to prevent the spread of the disease, many people has no income now.
Several non-essential businesses temporarily stopped their operation. Thus, many no-work-no-pay employees lost their monthly income.
In line with the government’s “Bayanihan To Heal As One” Act, several companies including lending firms postponed their payment collections. Many government agencies also offered loans to assist the people in their financial needs.
Pag-IBIG Fund is one of those that have the said offers amid the COVID-19 crisis in the Philippines. According to the government agency, they have released P716-million through Pag-IBIG Fund loans to their members.
Pag-IBIG Fund Secretary Eduardo del Rosario expressed that they have approved 37,901 applications of members for cash loan amid the coronavirus crisis. They are hopeful that they will be able to help more of their members soon.
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