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LANDBANK to assist with six transport programmes in the Philippines [free access]

October 13, 2020

The Land Bank of the Philippines (LANDBANK) has signed a memorandum of agreement (MoA) with the Philippines’ Department of Transportation (DOTr), the Land Transportation and Franchising and Regulatory Board (LTFRB), and the Philippine National Railways (PNR) for six transport programmes in the country. The programmes are the North-South Commuter Railway Extension Appraisal Project, the Resettlement Action Plan Entitlements Distribution Mechanism, the Distribution of Cash Subsidy for Operators, the Automatic Fare Collection System–Pilot Production Testing, the Support Package for Environment-friendly and Efficiently-Driven PUV (SPEED PUV) Program, and the Interim Rehabilitation Support to Cushion Unfavorably-affected Enterprises by COVID-19 for Better Urban Services (I-RESCUE BUS) Transport Lending Program.

 

Under this partnership, LANDBANK will appraise properties in 15 clusters affected by the construction of the extension of North-South Commuter Railway as well as deliver cash entitlements to eligible residents and other Project-Affected Persons (PAPs) living along the railway right-of-way routes.

 

For the Distribution of Cash Subsidy for Operators programme, LANDBANK has partnered with LTFRB to distribute cash to operators of public utility vehicles (PUVs) who have been affected by the suspension of operations and reduced ridership due to the outbreak of the novel coronavirus. The bank will facilitate cash release through the Pantawid Pasada Program fuel cash cards, existing LANDBANK accounts, other bank accounts via InstaPay or PESONet, and over-the-counter payouts.

 

For the Pilot Production Testing of the Automatic Fare Collection System, LANDBANK has partnered with DOTr. Under this programme, Mastercard-branded EMV contactless bank cards will be deployed as fare media on multiple modes of transport.

 

For the SPEED PUV and I-RESCUE BUS programmes, LANDBANK has signed an MoA to ensure that the rules and procedures of the lending programmes are in line with DOTr’s Public Utility Vehicle Modernization Programme (PUVMP). The SPEED PUV programme offers financing to public transport cooperatives or corporations to deploy more efficient and safer vehicles. As of August 31, 2020, LANDBANK has approved loans worth PHP737.21 million to 16 borrowers for the purchase of 407 modern jeepneys. The bank has also allocated PHP3 billion for the I-RESCUE BUS programme.

 

(1 PHP [Philippine Peso] = 0.02 USD)

 

Under this partnership, LANDBANK will appraise properties in 15 clusters affected by the construction of the extension of North-South Commuter Railway as well as deliver cash entitlements to eligible residents and other Project-Affected Persons (PAPs) living along the railway right-of-way routes.

For the Distribution of Cash Subsidy for Operators programme, LANDBANK has partnered with LTFRB to distribute cash to operators of public utility vehicles (PUVs) who have been affected by the suspension of operations and reduced ridership due to the outbreak of the novel coronavirus. The bank will facilitate cash release through the Pantawid Pasada Program fuel cash cards, existing LANDBANK accounts, other bank accounts via InstaPay or PESONet, and over-the-counter payouts.

For the Pilot Production Testing of the Automatic Fare Collection System, LANDBANK has partnered with DOTr. Under this programme, Mastercard-branded EMV contactless bank cards will be deployed as fare media on multiple modes of transport.

For the SPEED PUV and I-RESCUE BUS programmes, LANDBANK has signed an MoA to ensure that the rules and procedures of the lending programmes are in line with DOTr’s Public Utility Vehicle Modernization Programme (PUVMP). The SPEED PUV programme offers financing to public transport cooperatives or corporations to deploy more efficient and safer vehicles. As of August 31, 2020, LANDBANK has approved loans worth PHP737.21 million to 16 borrowers for the purchase of 407 modern jeepneys. The bank has also allocated PHP3 billion for the I-RESCUE BUS programme.

(1 PHP [Philippine Peso] = 0.02 USD)

Meta tags: Asia, Philippines, funding, LANDBANK, Land Bank of the Philippines, Philippine National Railways, PNR, DOTr, Department of Transportation, Land Transportation and Franchising and Regulatory Board, LTFRB, ticketing, bank card, North-South Commuter Railway