The Government Service Insurance System has established a fund of P12.26 million for emergency loans in response to the impact of El Niño in Puerto Galera, Oriental Mindoro.
The move follows the declaration of a state of calamity in the province due to prolonged dry conditions and water shortages, the state pension fund stated in a press release.
The system continues to support its members and pensioners during times of calamity and remains committed to delivering responsive and accessible financial assistance to affected communities, it said.
Active members and old-age and disability pensioners are eligible to apply for the loan, with 485 individuals potentially benefiting from the program.
Under the program, members with no existing emergency loan can borrow up to P20,000, while those with an existing balance can borrow up to P40,000.
The loan carries a 6% interest rate and features a three-year payment term.
