TUGUEGARAO CITY, Cagayan, April 8 (PA)--In partnership with the Department of Labor and Employment (DOLE), the Land Bank of the Philippines (LANDBANK) will distribute a total of P1.2 billion-worth of financial assistance to 250,000 workers under the COVID-19 Adjustment Measures Program (CAMP).
The CAMP program supports workers affected by the adverse economic impacts brought about by the COVID-19 pandemic and forms part of the government's Social Amelioration Program (SAP).
Based on submissions received by DOLE from 2,773 private companies, LANDBANK will release a one-time financial aid of P5,000.00 each to an initial batch of 250,000 worker-beneficiaries-majority of which are based in the National Capital Region (NCR).
Through the LANDBANK Remittance System (LBRS)/PESONet Facility, the financial assistance 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 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 C. Borromeo said.
Under the social amelioration interventions of Republic Act No. 11469 or the "Bayanihan to Heal as One Act," LANDBANK serves as partner of government agencies in delivering social protection programs to households most affected by the COVID-19 pandemic.
For more updates, please follow, like, and share the official LANDBANK social media accounts-for Facebook and Instagram: @landbankofficial, and for Twitter: @LBP_Official, and the LANDBANK website: www.landbank.com. (ALM/PIA-2/LBP Press Release)