LandBank says donated ₧1.5M in financial aid to 13 quake-hit LGUs

STATE-run Land Bank of the Philippines announced on Tuesday that it has donated a total of P1.5 million worth of financial aid to local government units (LGU) in Northern Luzon affected by the earthquake earlier this year. The bank said extended donations of P200,000 for affected provinces and P100,000 each for municipalities. The donations are intended to support recovery efforts in the aftermath of the 7.0 earthquake that hit the region last July.

LGUs that received financial assistance include the municipalities of Bangued, Bucay, Dolores, Lagangilang, Luba, Manabo, Peñarrubia, Pilar, Tayum, and Villaviciosa in Abra; Pasil in Kalinga; and, the Provincial Governments of Abra and Ilocos Sur.

“As the biggest development partner of the LGU sector, LandBank is fully committed to service the recovery and growth requirements of our partner LGUs,” LandBank President and CEO Cecilia C. Borromeo was quoted in a statement from the lender as saying.

According to the Philippine National Disaster Risk Reduction and Management Center, the 7.0-magnitude earthquake affected more than 21,000 residents, mostly from the Province of Abra and its adjacent towns. The NDRRMC said the estimated damage to infrastructure at P33.8 million

Apart from the financial aid, LandBank said it “continues to ensure the availability and accessibility of cash in the earthquake-hit areas.”

The bank also said it put up a mobile ATM machine to the Municipality of Bangued in end-July and provided service to the community until early August 2022.