EMERGENCY LOANS Members and pensioners in 13 areas affected by either rabies or the El Niño phenomenon can borrow up to P20,000, the Government Service Insurance System announced on Tuesday. —Inquirer file photo
MANILA, Philippines — The Government Service Insurance System (GSIS) has set aside P1.7 billion to provide emergency loans to members and pensioners in 13 areas nationwide that are affected by the El Niño weather phenomenon and rabies — a common health concern during the dry season.
In a statement on Tuesday, the pension fund for government workers said over 77,000 members and pensioners would benefit from the program, which features credit with an interest rate of 6 percent per annum and a repayment period of three years.
READ: DA: Agriculture damage due to El Niño hits P6.3 billion
The GSIS said those with an existing emergency loan balance could borrow up to P40,000 to clear their previous loan and receive a maximum net amount of P20,000.
Those without an existing loan may apply for up to P20,000.
Qualified applicants include those residing or working in Buenavista town in Marinduque province, where rising rabies cases have been reported. Last month, Buenavista and Boac, another town in the province, were placed under a state of calamity due to a high number of rabies cases.
READ: In Palawan, El Niño crop damage reaches P1B
Also covered by the program are several locations affected by the El Niño onslaught, which has so far resulted in agriculture losses amounting to P6.3 billion based on latest government estimates. These areas include Catbalogan City in Western Samar; Cordova, Naga City, and Toledo City in Cebu; Iloilo City; Buenavista in Guimaras; Bayawan City and Sta. Catalina in Negros Oriental; Antique; Basilan; and Datu Piang and Sultan sa Barongis in Maguindanao del Sur.
Requirements
To qualify for the assistance program, the GSIS said active members must not be on unpaid leave or facing any administrative or legal cases.
They must also have made at least six monthly premium payments prior to application. At the same time, their net take-home pay should not be less than P5,000, as required by the General Appropriations Act.
On the other hand, old-age and disability pensioners must have a net monthly pension that is at least 25 percent of the gross amount they receive.
Borrowers may file applications through the GSIS Touch. The deadline for the submission of applications is on June 7 for Luzon areas, May 31 for Visayas, and June 1 for Mindanao.
The GSIS last month urged its old-age and survivor pensioners to take advantage of available online services, instead of visiting its branches for transactions amid the extreme weather.