Landbank unveils P10B lending program for LGUs

The Land Bank of the Philippines on Thursday announced a P10-billion lending program to support local government units (LGUs) amid the health crisis brought about by the coronavirus disease 2019 (COVID-19).

In a statement, Landbank said the program will be made available through the HEAL (Help vis Emergency Loan Assistance for LGUs) Program for provincial, city, and municipal governments.

"The HEAL Program is LANDBANK’s way of supporting our LGUs deliver immediate health services, food, and basic commodities to their constituents during this crisis," said Landbank president and chief executive officer Cecilia Borromeo.

"Our LGUs are at the forefront of this adversity, and as our partners in development, we will continue to finance their recovery and rehabilitation needs," she added.

According to Landbank, the program is in support of the Bayanihan to Heal as One Act which declared a state of national health emergency and gave special authorities to President Rodrigo Duterte.

The Landbank last month also assured beneficiaries of the conditional cash transfer (CCT) under the Pantawid Pamilyang Pilipino Program (4Ps) that they will continue to receive grants as scheduled.—AOL, GMA News