Pag-IBIG seeks quarantine workaround to offer calamity loans

ABS-CBN News

Posted at Mar 17 2020 01:40 PM | Updated as of Mar 17 2020 09:25 PM

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(UPDATED/CORRECTED) - State-run housing fund Pag-IBIG said Tuesday it was working to provide calamity loan access to qualified members despite restricted movements in Luzon due to the COVID-19 quarantine.

Under current rules, the calamity loans must be filed personally in Pag-IBIG offices. The document must be signed by employers, said its CEO Acmad Rizaldy Moti.

"Kailangan ng pirma ng employers, work from home na din. Inaaral natin 'yan ngayon," he told DZMM. (We need the signature of employers who also work from home. We are currently studying that.)

According to Pag-IBIG, the calamity loan amount that can be availed is 80% of the member's savings, which average around P20,000. Thus, the calamity loan amount will depend on a qualified member's total savings, the state housing fund added.

The declaration of a state of calamity in some areas due to the COVID-19 pandemic triggered availability of the loan facility for Pag-IBIG members there, he said.

"Basta po na declare na may state of calamity, 'yung calamity loan program namin ay nati-trigger," Moti said. 

(Once a state of calamity is declared, the calamity loan is triggered)

Pag-IBIG is considering an enhanced online application process. Any new guidelines will be disseminated to the public, he said.

An enhanced community quarantine for the entire Luzon took effect Tuesday until April 13 to stop the spread of the 2019 coronavirus disease, which claimed at least 12 lives in the Philippines.

Muntinlupa, Mandaluyong, Valenzuela and Quezon City are among those that declared a state of calamity. The Department of Finance on Monday allotted a P27.1 billion fund to help mitigate the impact of COVID-19.