The Home Development Mutual Fund (HDMF or Pag-IBIG Fund) has released P5.8 million in calamity loans for its members in Mindanao who were affected by Tropical Depression Agaton, Vice President Jejomar Binay said on Monday.
“As of January 28, we have processed 598-calamity loan applications amounting to P5.8 million out of the 827 we have received in four Pag-IBIG branches,” Binay said.
He said Pag-IBIG Fund has processed the calamity loan applications of 247 members from Butuan, 317 in Iligan, 32 in Zamboanga, and two in Cagayan de Oro.
The Vice President, who chairs the Pag-IBIG board of trustees, said Pag-IBIG Fund branches in affected areas continue to receive and process calamity loan applications.
“We have also issued a three-month moratorium on housing loan payments for those affected by Agaton,” he added.
Pag-IBIG also recently issued a six-month moratorium for housing and short-term loans of members living in Yolanda-affected areas.
The National Disaster Risk Reduction and Management Council placed the death toll from Agaton at 70 as of Thursday, with 86 injured and nine people still missing.
As of Thursday, Agaton has also caused a total of P527-million worth of damage, with P273 million inflicted on infrastructure and P253 million on the agriculture sector.
Agaton brought heavy rains over Mindanao and parts of the Visayas, affecting some 250,000 families in 16 provinces in Regions 10, 11 and 12, Caraga Region and the Autonomous Region in Muslim Mindanao.