The Land Bank of the Philippines (LBP) on Thursday turned over to the city government here around 15,000 cash cards to be distributed to senior citizens this month.
Mayor Edgardo Labella announced these cash cards will be given by the second week of December, in time for the distribution of the last tranche of their financial assistance for this year.
“Landbank has so far been able to produce about 15,000 cash cards from Manila, out of the total 18,000 senior recipients that we have. The remaining cards will just follow,” Labella said via social media.
The mayor noted that starting next year, the financial aid for the senior citizens will now be distributed through their cash cards.
This scheme, according to Labella, will give the elderly a comfortable way of receiving their cash aid and keep them safe amid the ongoing threat of the coronavirus.
Beneficiaries will soon be able to withdraw their monetary aid using the cash card, or buy in certain establishments authorizing its use.
“On behalf of the Cebu City government and its participating departments, I am very grateful to Land Bank for helping us realize the implementation of this initiative,” he said.
The turnover was led by Land Bank’s regional manager Vivian Bisnar.
Labella noted the need to devise such a system for the financial aid distribution especially amid the coronavirus disease 2019 crisis.
In the past months, the city government had carried out a house-to-house distribution of financial assistance to the seniors and persons (PWDs) with disabilities during the strict community quarantine.
Seniors and PWDs in Cebu City receive a monthly cash aid of PHP1,000. (PNA)