GSIS opens emergency loan program for Mindanao quake victims

MANILA, Philippines – The Government Service Insurance System (GSIS) has earmarked P15.1 billion in emergency loans for members and pensioners affected by the strong earthquake that struck Mindanao on Monday morning.

In a statement, the state-run agency said its Emergency Loan Program will be available to 608,343 members and pensioners residing or working in areas officially placed under a state of calamity following the earthquake.

READ: ‘Destructive’ intensity felt after earthquake off Sarangani — Phivolcs

Qualified borrowers may apply for emergency loans of up to P40,000 until September 7. Meanwhile, members without an existing emergency loan may borrow up to P20,000.

The loans carry an interest rate of 6 percent per year and are payable over 36 months.

Likewise, GSIS said it would expedite insurance claims of government agencies whose properties were damaged by the quake.

“Our thoughts are with our fellow Filipinos in Mindanao affected by this powerful earthquake. The GSIS is ready to provide accessible financial relief to help our members, pensioners, and partner government agencies recover and rebuild,” GSIS President and General Manager Wick Veloso said.

A magnitude 7.8 earthquake struck off Sarangani on June 8. As of this writing, authorities have recorded more than 40 deaths and hundreds of injuries.

READ: Mindanao earthquake death toll rises to 45 – NDRRMC

More than 77,000 individuals across Mindanao have been affected by the disaster. /pai INQ