Nancy proposes loan payment moratorium for Taal eruption victims


MANILA, Philippines — Senator Nancy Binay on Wednesday urged government financial agencies and offices to impose six months to one year loan payment moratorium for those affected by the ongoing eruption of the Taal Volcano.

“We can help ease the burdens of our kababayans hit by natural calamities and a way for government agencies to show continuing concern for its members, and its way of helping out its members during their times of need,” Binay said.

“We are calling on all local government units don’t exact payment penalties on those who will fail to pay real property taxes and businesses which cannot renew business permits because they were affected by Taal eruption,” she added.

Likewise, the senator also called on private and government banks, lending agencies, and financial institutions to defer loan payments of borrowers in areas declared under state of calamity.

“The situation calls for everyone to be more caring and compassionate. Yung pagbibigay ng loan moratorium and debt restructuring ay malaking tulong para makabangon ang ating mga kababayan,” she said.

“Compassionate care is an important component of rebuilding, and will surely make a difference,” Binay added.

The province of Batangas was placed under a state of calamity a day after Taal Volcano exploded.

Under a state of calamity, the provincial government can now utilize P60 million in emergency funds to help people displaced by the catastrophe.

According to reports from the Batangas Provincial Disaster Risk Reduction and Management Council (PDRRMC), over 200,000 individuals have been affected by Taal’s activity.

About 17,000 individuals or more than 3,000 families in the most affected towns of Balete, Laurel, San Nicolas, Talisay and parts of Lipa and Tanauan City have initially been evacuated.

Binay had earlier called on government to enlist the help of the private sector in procuring masks as well as other supplies that would protect citizens in affected areas.

The senator also blasted the “enterprising” attitude of traders and hoarders that have taken advantage of the situation and exacerbated the lack of supply. She warned that there are serious repercussions for establishments that are proven to have marked up the prices of goods during the crisis. (Stacy Ang/IAMIGO/

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