GSIS offers emergency loans in rain-battered Davao areas

MANILA, Philippines—The state-run pension fund Government Service Insurance System (GSIS) is offering emergency loans to members and pensioners in a couple of Davao Region areas where recent downpours damaged properties.

In an April 12 advisory, the GSIS said its emergency loan program has been activated to cover Davao Del Norte province as well as the municipality of Montevista in Davao De Oro.

The GSIS said continuous heavy rains inflicted damage on infrastructure, properties, and other critical local government facilities in these two areas.

The GSIS from April 8 to May 7 will accept applications for emergency loans.

Active members living or working in these areas, as well as old-age pensioners living there can be eligible for the ongoing loan program.

Members and pensioners without any outstanding emergency loan may borrow up to P20,000, the GSIS said.

Those with existing emergency loans could apply for up to P40,000 in new loans provided that net proceeds do not exceed P20,000.

The GSIS said application forms can be downloaded on its website.

TSB