GSIS allocates P8.6 B for emergency loans

The Government Service Insurance System (GSIS) has set aside nearly P8.6 billion worth of emergency loans for members and pensioners in Luzon affected by various typhoons.

- By CATHERINE TALAVERA

In a statement, the GSIS said the amount covers 363,547 active members and old-age and disability pensioners affected by recent typhoons. These include areas in Isabela, Cagayan, Pangasinan, Ifugao, Nueva Vizcaya, Batangas, Camarines Norte, Catanduanes, Masbate and Sorsogon.

The areas suffered damages from the onslaught of typhoons such as Nika, Ofel, Pepito and Kristine.

Under the emergency loan facility, qualified members who have existing emergency loan may borrow up to P40,000 to pay off their previous emergency loan balance and enable them to receive a maximum net amount of P20,000. Those without existing emergency loan may apply for P20,000.