LandBank: P5,000 handed out to 250,000 workers affected by COVID-19
The one-time P5,000 financial assistance to formal sector workers affected by the coronavirus disease 2019 (COVID-19) crisis has been handed out to some 250,000 workers under the Department of Labor and Employment’s (DOLE) COVID-19 Adjustment Measures Program (CAMP).
In a statement, the Land Bank of the Philippines said the total amount distributed amounts to P1.2 billion.
The state-owned lender based it on the submissions received by the DOLE from 2,773 private firms, covering 250,000 workers, majority of which are based in the National Capital Region.
Workers will receive their P5,000 cash aid through the LandBank’s Remittance System (LBRS)/PESONet Facility, which will be directly credited to workers’ existing LandBank account, other bank accounts, or through remittance partner Palawan Express for those without a deposit account.
LandBank said it is waiving all fees and charges for the cash grant.
“We understand how our workers, regardless of their employment status, are experiencing reduced incomes brought about by this health and economic adversity. Rest assured that together with DOLE, LandBank is committed to provide immediate financial access to our workers and their families during this critical time,” LandBank president and CEO Cecilia Borromeo said.
Under the social amelioration interventions of Republic Act No. 11469 or the “Bayanihan to Heal as One Act,” LandBank serves as a partner of government agencies in delivering social protection programs to households most affected by the COVID-19 pandemic. —LDF, GMA News