MANILA, 10 billion allocated by the Landbank as emergency loans to help LGU purchase food and medicine.
The HEAL program is a way to deliver emergency medical care, essentials, and food to your constituents.
Loans at a fixed interest rate of 5% APR for up to five years and a grace period of 1 year.
The Bank stated that the loan was provided in support of the Law of the Republic No. 11469 or the Bayanikhan Law “Heal as a Whole”, which provides timely and affordable lending to sectors affected by COVID-19, especially in rural areas.
Earlier, Landbank called on its customers to use the bank’s Internet platform, instead of going to the bank’s offices while the country is in distress due to the COVID-19 pandemic.