GSIS releases more P200-B loans to over 1 million government workers and retirees – Manila Bulletin
The Government Services Insurance System (GSIS) said it has released more than 200 billion pesos in net loan proceeds to more than one million members and retirees.
Through its various loan products, GSIS President and CEO Rolando Ledesma Macasaid said the state-run insurance fund “has helped countless lives at a time when they needed it most. our help “.
GSIS has granted over 108 billion pesos to nearly 292,000 members who have applied for the GSIS Financial Aid Loan (GFAL); more than 16 billion pesos to 256,537 beneficiaries of the multipurpose loan (MPL); over 17 billion pesos in emergency loan to 902,696 members; and more than 5 billion pesos in computer loans to 171,208 borrowers; 3.21 billion pesos and 980.22 million pesos for GSIS retirees who benefited from the enhanced pension loan and emergency loan for retirees.
Macasaet added that the insurance system has also granted 20.4 million pesos to 655 members through the GFAL education loan program and 50 million pesos to 5,025 university students under the program. education grant of 10,000 pesos per year (GESP).
“[The] The multiplier effect of lending in communities has effectively boosted the economy in remote areas as banks and other financial institutions tightened and were reluctant to extend credit, âhe noted.
Macasaet added that GSIS has made transactions with the pension fund more secure and convenient for its members and retirees “through technology-driven initiatives such as the Annual Online Retiree Information Revalidation (APIR), G-TOUCH mobile application and the Bayad Center partnership. . “
“Despite the many uncertainties and limitations caused by the COVID pandemic, we have not wavered in our commitment to service,” he said.
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