LandBank donates P1.5M to LGUs affected by North Luzon quake

The Land Bank of the Philippines on Tuesday said it donated P1.5 million worth of financial assistance to local government units (LGUs) in Northern Luzon, which were hit by the magnitude 7 earthquake in July.

In a statement, the state-owned lender said it extended donations of P200,000 each to the affected provinces and P100,000 each to municipalities.
 
The LGUs that received financial assistance include the municipalities of Bangued, Bucay, Dolores, Lagangilang, Luba, Manabo, Peñarrubia, Pilar, Tayum, and Villaviciosa in Abra; Pasil in Kalinga; and the provincial governments of Abra and Ilocos Sur.
 
“As the biggest development partner [in] the LGU sector, LandBank is fully committed to [servicing] the recovery and growth requirements of our partner LGUs,” said LandBank president and CEO Cecilia Borromeo.
 
Citing the National Disaster Risk Reduction and Management Council, LandBank said that the July 27 earthquake affected more than 21,000 residents in Abra and other areas.
 
Apart from the financial aid, the state-owned lender said it continues to ensure the availability and accessibility of cash in the earthquake-hit areas.
 
“A LandBank Mobile ATM was immediately deployed to the Municipality of Bangued on July 29, 2022 and provided service to the community until August 3, 2022,” it said. — VBL, GMA News