LANDBANK launches P10B HEAL Program for LGU loans

LANDBANK has launched a P10 billion lending program called HEAL (Help via Emergency Loan Assistance for LGUs) to provide local government units with funding during the COVID-19 crisis.

The loans have a fixed interest rate of five percent and can be repaid over up to five years, including a one-year grace period for principal repayment.

Both client and non-client provincial, city, and municipal governments are eligible for this loan program.

LANDBANK president Cecilia Borromeo emphasized that the initiative aims to support LGUs in delivering immediate health services, food, and basic commodities to their constituents.