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GSIS Opens P12.6M Emergency Loan for Puerto Galera Water Crisis
The state pension fund allocated P12.62 million for 485 eligible members and pensioners in the calamity-declared municipality. Loans carry 6% interest over 36 months.
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The Government Service Insurance System has opened emergency loans for qualified members and pensioners in Puerto Galera, Oriental Mindoro, after the municipality declared a state of calamity over prolonged dry conditions and water shortages tied to El Niño.
A total of 485 active GSIS members and old-age and disability pensioners are eligible. The state pension fund allocated an estimated P12.62 million for the program.
Active members working or residing in the affected area can apply if they have no unpaid GSIS loan older than six months, are not on unpaid leave, have three months of paid premiums within the last six months, have no pending administrative or criminal case, and have a monthly take-home pay of at least P5,000 after deductions.