LANDBANK aids Dinagat Islands’ recovery

LANDBANK immediately extended financial assistance to the local government units (LGUs) of Dinagat Islands after Typhoon Odette devastated all seven municipalities in December 2021 for various relief and recovery efforts. The state-run Bank continues to provide financing for housing reconstruction and livelihood opportunities for Dinagatnons.

DINAGAT ISLANDS – In December 2021, Typhoon Odette’s heavy rains and fierce
winds ravaged communities in this province, destroying homes which left many
residents with nothing but scraps and shreds from their wrecked valuables.

The family of Von Abner Vargas was one of those severely affected by the super
typhoon. They had to live in makeshift tents and relied on relief goods from local
government units (LGUs) and international organizations.

As president of the Dinagat Islands Provincial Government Employees Association,
Vargas recommended that the members apply for salary loans from the Land Bank
of the Philippines (LANDBANK) that will allow them to rebuild their homes.

“Naisip ko at that time na baka pwede kaming mag-avail ng salary loan sa
LANDBANK para magamit sa pagpapatayo ng aming mga nasirang bahay at
hanapbuhay. Salamat kasi inalalayan kami ng LANDBANK. Even the processing of
our loans were very smooth, very easy,” Vargas said.

As of end-June 2022, a total of 54 employees of the Provincial Government of
Dinagat Islands have successfully availed of loans from LANDBANK amounting to
P10.4 million. The Bank likewise extended salary loans to 13 employees of the
Municipal Government of Tubajon for a total of P2.8 million.

LANDBANK is also addressing the financing needs of other Dinagatnons. On 22 June
2022, the Bank released a P1-million loan line to the San Jose Municipality Market
Vendors Multi-Purpose Cooperative (SJMMV MPC) to support the recovery and
expansion of their meat, chicken and frozen products business.

More than 300 members of the SJMMV MPC—composed of local market vendors and
fishers—are expected to benefit from the LANDBANK loan, which will also eventually
boost food security in the provincial capital and nearby towns.

“Malaki po ang aming pasasalamat na pinagbigyan kami ng LANDBANK na
makahiram ng dagdag na puhunan para kami’y makaahon sa pinsala ng Bagyong
Odette. Sisiguraduhin namin na hindi mawawala ang tiwala at kumpiyansa ng
LANDBANK sa aming kooperatiba,” said SJMMV MPC Manager Mario Dagale

Immediate response and assistance Two banking days after Typhoon Odette’s landfall, the LANDBANK Dinagat Branch immediately resumed operations to serve the cash and banking requirements of residents, despite the lack of electricity and internet connectivity.

LANDBANK likewise extended immediate financial assistance for relief and recovery
efforts to the Provincial Government of Dinagat Islands, and the Municipalities of
Basilisa, Cagdianao, Dinagat, Libjo, Loreto, San Jose, and Tubajon.

“Ang laking tulong ng LANDBANK. Ito ang pinakaunang financial institution na
nagpaabot ng tulong at hinatid talaga sa pinto ng LGU. Naibsan din ng LANDBANK
ang kaba at hirap ng aming mga empleyado sa pamamagitan ng kanilang salary
loans. Ito ‘yung institusyon na madaling pakiusapan, hindi pinahirapan ang mga
tao,” said Tubajon Mayor Simplicia P. Pedrablanca.

For its invaluable contributions in addressing the dire needs of Dinagatnons after
Typhoon Odette, the LANDBANK Dinagat Branch received a certificate of
appreciation from the Provincial Government of Dinagat Islands.

LANDBANK is the largest source of development financing for LGUs nationwide, and
remains steadfast in supporting the recovery and rehabilitation of local communities,
in line with its commitment to serving the nation.

As of end-May 2022, LANDBANK’s outstanding loans to LGUs reached P79.23 billion,
majority of which are used for agri-aqua projects, transportation, and healthcare
initiatives, among others.

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