MANILA, Philippines--The Government Service Insurance System said it has granted 103,000 of its members P20,000 each in emergency fund just a week since the launch of a loan program for those affected by tropical storm "Ondoy."

According to the GSIS, the approved loans represent 79 percent of the 130,000 loan applications filed as of October 12.

This means P2 billion of the P5 billion allotted for the loan program has been allotted to qualified recipients who live in areas devastated by Ondoy.

Also, the pension fund said it has earmarked P550 million for a similar loan program for GSIS members adversely affected by typhoon "Pepeng" or those who work in Ilocos Norte, Cagayan Valley, and Albay.

For those in Ilocos Norte, eligible members can apply for the loan at the GSIS Regional Office in Laoag City, Bangui municipal hall, and Batac city hall.

In Cagayan Valley, qualified members can apply at the GSIS regional office in Tuguegarao City; Aparri municipal hall, and Apayao provincial capitol.

In Albay, loan applications may be filed with the GSIS regional office in Naga City; municipal halls in Polangui, Tabaco and Daraga; Ligao city hall; and Albay provincial hall.

Last week, the GSIS said government employees, especially those hit by tropical storm Ondoy, do not need to pay their loans for a year.

The GSIS board of trustees approved a year-long moratorium on monthly payments of housing and consolidated loans to enable victims of calamities to attend to more pressing needs like food, clothing, relocation and/or repair of shelter.

According to the GSIS, it has yet to finalize the system for the implementation of the moratorium and will announce more details as soon as the GSIS is ready to begin this program.

However, only borrowers whose accounts are not in default will benefit from the deferral of loans payments.

During the implementation of the moratorium, the sending of collection
notices shall be suspended.