Pag-IBIG: Marawi victims not required to pay all types of loan payments for 6 months

Image by Property in the Philippines, HDMF Pag-IBIG

The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund has declared a six-month moratorium (until November) on the collection of all types of loan payments for its members in Marawi City.

Pag-IBIG Chief Executive Officer Acmad Rizaldy Moti told GMA News: “Yes, we have imposed a moratorium on loan payment for six months for our members working in Marawi as well as those who reside in Marawi but working outside the city.”

“This has already taken effect… also if they missed paying their loans in June, counted na rin ‘yun sa six months moratorium,” he added.

Apart from moratorium on loan payments, similar undertakings has been approved on employers’ remittances of members’ contributions.

Moti said the fund has earmarked P3 billion to allow its 9,500 members from Marawi City to avail themselves of a Home Rehabilitation and Reconstruction loan package of up to P450,000.

Aside from housing, at least P10 million was also earmarked to fund livelihood training programs and psycho-social seminars for the evacuees.

Another P1 million will be used to purchase hygiene kits, malongs, and other urgent needs of mothers and children in evacuation centers, Moti said.

Meanwhile, Malacañang said it is planning to spend P20 billion for the rehabilitation of the city.

Several buildings, particularly those located at the business district of the city, have been destroyed in military air strikes and clashes between members of the Maute group and government forces.

At least 400,000 people have been displaced since the Maute group attacked the city on May 23.