Postal bank’s transport loan scheme hailed

A transport leader has described the P250-million “Arangkada Pasada” loan program of the Philippine Postal Savings Bank (PostalBank) as “proof that the Aquino government is doing its best to alleviate their plight.”

“This program is a recognition and solution to the needs of our sector,” Jacinto Alejandro, president of Cher Transport, said in Filipino during the launching of the program on February 3 at the PostalBank main office in Plaza Lawton, Manila.

Alejandro said transport organizations were about to lose hope that the government is not looking after their condition due to the recent series of increase in oil prices.

“Now we are optimistic because of PostalBank’s program which is expected to give additional income to our families,” he added in a press statement.

Highlight of the program was the signing of a memorandum of understanding between transport groups and PostalBank officials led by its president, Cesar Sarino, and chairperson Josie dela Cruz.

The “Arangkada Pasada” is a P250-million loan program which can be used by industry stakeholders to start a new business or expand an existing one.

Sarino said the program is in line with the bank’s vision to promote entrepreneurship and widen economic opportunities for the Filipinos, especially the needy.

“We are determined to become the true development bank of the government by going to places where there are no banks and serve people who are not touched by banks,” he said.