DBP offers payment
holiday on salary loans
BUTUAN CITY, April 8 -- State-run Development Bank of the Philippines
(DBP) is implementing a 60-day moratorium on the payment of amortizations under
its EC Credit Salary Loan program to assist its borrowers in managing their
expenses during the State of Public Health Emergency.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the
payment holiday covers all salary loan amortizations with due dates covering
March 15 to April 12, 2020.
“This moratorium on DBP’s EC Credit Salary Loan Program is the Bank’s
firm response to the national government’s call to ease the burden of our
countrymen during this period of the State of Public Health Emergency,” Herbosa
said.
The EC Credit Salary Loan program is a credit program with government
agencies including local government units for their respective employees. The
program offers a maximum loanable amount of P1 million, with flexible payment
terms of up to 48 months.
Under Republic Act No. 11469 or the Bayanihan to Heal As One Act, all
banks, quasi-banks, financing and lending companies as well other financial
institutions whether government or private are directed to implement a minimum
30-day grace period for the payment of all loans falling due within the
Enhanced Community Quarantine period.
Herbosa said the moratorium would allow participating government
agencies to defer amortization payments without incurring interest, penalties,
fees and other charges.
He said the payment holiday will be automatically applied to all salary
loan accounts while auto-debit arrangements will be put on hold and will resume
after the moratorium period.
"For further details, agencies may coordinate with their respective
servicing DBP branch," Herbosa added. (DBB/PIA-Caraga)
DA cash assistance
reaches SurSur rice farmers
Rice farmers who are tilling 0.5 hectares to two hectares of land and
registered in the Registry System for Basic Sectors in Agriculture (RSBSA) are
the priority of the program and will receive ₱5,000
cash aid. Farmers need not worry because the assistance is an unconditional
cash transfer intended to help farmers affected by the implementation of the
rice tarrification law.
It is a nationwide response of the national government to rice farmers
particularly the marginal ones.
RFFA Program Regional Focal Person Hazel M. Colinares headed the
releasing of the cash support in coordination with the local government unit of
the municipality of Cagwait.
In the region, a total of 1,405 have been served by the program with
total cash released worth ₱7 Million. Another 18,375
eligible rice farmers for the provinces of Agusan del Norte, Agusan del Sur,
Surigao del Norte, and Surigao del Sur will receive the financial assistance
not later this month, Colinares added. (DA-Caraga, FOD-Technical
Staff/PIA-SUrigao del Sur)
