The Home Development Mutual Fund was said to allocate P5 Billion calamity loan fund for the victims if Typhoon Pedring.
Emma Linda Faria, PAG-IBIG deputy chief executive, announced that their offices are open for providing loan calamity funds to their members much harmed by the disaster made by the Typhoon Pedring.
Under the Calamity Loan Program of the Pag-IBIG, a member with a total of 24 monthlycontributions and live in areas where declared under the "state of calamity" will reportedlybenefit from the program.
According to Faria, an estimate fund of P10,000-P15,000 loan can be available per member.
It will be paid for 24 months with five months of grace period. The loan interest is at 10.75 percent per annum.
The official explained that they can still get the calamity loans supposedly the Pag-IBIG member who have pending Multi-Purpose loans, although they will deduct it to the new loan for this balance.
He also added that the department is also ready to deploy their personnel in calamity-stricken areas to receive loan applications.
Vice President Jejomar C. Binay first ordered to Pag-IBIG Fund to prioritized the processing in calamity loan applications to affected members living in different regions of Luzon.
“The Pag-IBIG once again opens its doors to its members affected by the devastation caused by typhoon Pedring through its Calamity Loan Program,” told Binay as he is also the chairman of Pag-IBIG in his capacity as a chairman of the Housing and Urban Development Coordinating Council (HUDCC).
Also, Atty. Darlene Marie B. Berberabe, Pag-IBIG Fund chief executive officer, advise to take advantage of the programs because it has only 90 days prescriptive period after the declaration of the state of calamity.
Berberabe also yield that Pag-IBIG members can also visit the nearest branch or can call their hotline Pag-IBIG.