LANDBANK, DOLE Ready Cash Aid for Displaced OFWs Due to COVID-19

In partnership with the Department of Labor and Employment (DOLE), the Land Bank of the Philippines (LANDBANK) is gearing up to distribute cash assistance to overseas Filipino workers (OFWs) who have been displaced due to the coronavirus disease (COVID-19) pandemic.

Under the DOLE AKAP (Abot Kamay ang Pagtulong) for OFWs Program, around 135,720 displaced land-based and sea-based OFWs will each receive a one-time financial assistance of P10,000 or $200, or its equivalent currency in the host country. Beneficiaries are composed of about 85,720 on-site OFWs based abroad, and 50,000 repatriated OFWs or “Balik Manggagawa” already in the country.

Through the LANDBANK Remittance System (LBRS) eligible repatriated OFWs from National Capital Region (NCR) will be able to claim their P10,000 cash aid from LANDBANK Branches free of charges via PESONet.

Meanwhile, the 85,720 OFWs based abroad will receive their cash aid from their respective Philippine Overseas Labor Offices (POLO) processed via LANDBANK’s Outgoing Telegraphic Transfer (OTT), free from bank commissions and cable charges.

As of May 5, a total of 2,468 OFWs benefited, with total proceeds amounting to P24.68 million released by LANDBANK.
“LANDBANK is closely working with DOLE in assisting our OFWs to weather work disruptions and circumstances brought about by the COVID-19 crisis. This means immediately delivering financial support to our OFWs, wherever they are in the world,” LANDBANK President and CEO Cecilia C. Borromeo said.

DOLE CAMP Update

The AKAP for OFWs Program supplements DOLE’s COVID-19 Adjustment Measures Program (CAMP), wherein LANDBANK is also a distribution partner. The CAMP provides a one-time P5,000 financial support to employees of companies or business establishments that have adopted flexible work arrangements or temporary closure due to the current health adversity.

As of May 5, NCR-based workers that benefited from the program has reached 18,222 totaling P91.11 million in cash grants released by LANDBANK under CAMP.

LANDBANK supports national government agencies in the distribution of various social protection programs to sectors most affected by health and economic concerns caused by the COVID-19 pandemic.

This is in line with LANDBANK’s designation as the disbursement arm of the Social Amelioration Program (SAP) of the government for the implementation of Republic Act No. 11469 or the “Bayanihan to Heal as One Act.”

For details and updates, please refer to the official LANDBANK social media accounts @landbankofficial (Facebook and Instagram), @LBP_Official (Twitter), and www.landbank.com.