Farmers and fisherfolk from Marawi City recently received UCPB e-Money cards containing loan proceeds of government’s Survival and Recovery (SURE) Loan Program to help rebuild their lives after the five-month siege last year.
The Agricultural Credit Policy Council (ACPC), an attached agency of the Department of Agriculture (DA), released the loan to farmers and fisherfolk identified by the DA Regional Office as those who lost their livelihood due to the damage wrought by the Marawi siege last year. Each beneficiary received an e-Money card issued by UCPB, the conduit bank for the loan program. The card carries an initial assistance of P5,000 for the rehabilitation of the livelihood of the affected families.
The loan is interest-free and collateral-free and is payable in three years, the projected period when the farmers and fisherfolk would have fully recovered from the damage caused by the Marawi conflict.
“We thank ACPC for choosing UCPB to be part of this momentous project. We are honored to be part of the rebuilding efforts for our fellow Filipinos in Marawi who showed their resilience and determination to get back to their normal lives after the crisis,” Assistant Vice President/Mindanao Region Head Joel P. Javier said.
The UCPB e-Money card is a reloadable ATM card for different disbursements including loan disbursements, dividend and commission payments, and remittances. The card is equipped with the EMV chip, the global standard in card payment security. It is reloadable up to P100,000 through over-the-counter loading option at UCPB branches.
Date published: January 3, 2019