CFIEP launches calamity assistance program

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    Under the joint initiative of the Philippine Deposit Insurance Corporation (PDIC),
    Bangko Sentral ng Pilipinas (BSP) and Land Bank of the Philippines (Landbank),
    a new program called the Countryside Financial Institutions Enhancement
    Program – 2020 Calamity Assistance Program (CFIEP – 2020 CAP) has been
    launched to assist countryside financial institutions (CFIs) affected by natural
    calamities, man-made disasters, and viral infections and outbreaks such as the
    Covid-19 pandemic.

    The new program will lend funds to eligible cooperative banks, rural banks and
    thrift banks to provide additional liquidity for relending particularly to the
    agricultural sector. The CFIEP – 2020 CAP, which will be available until 15 May
    2025, shall be implemented by Landbank as lender.

    The implementation of CFIEP – 2020 CAP is consistent with the Bayanihan to
    Heal as One Act that directs the government to ensure the availability of credit
    to the productive sectors of the economy especially in the rural areas.

    PDIC’s partnership with BSP and Landbank for the CFIEP – 2020 CAP supports
    the Deposit Insurer’s mandate of protecting the depositing public and helping
    strengthen the banking system, more importantly during challenging times like
    the ongoing pandemic.

    For more information on the program as well as availment procedures and
    requirements, interested CFIs may visit https://www.landbank.com/cfiep-2020-
    cap or the Programs Management Department I at Landbank’s Head Office
    in Manila or any Landbank lending center nationwide.