The Land Bank of the Philippines (LANDBANK) and the United Nations Children’s Fund (UNICEF) signed a partnership agreement to ensure the smooth and speedy disbursement of pre-disaster financial aid to some 22,000 families in typhoon-prone towns.
LANDBANK President and CEO Cecilia C. Borromeo and UNICEF Philippines Representative Oyunsaikhan Dendevnorov led the ceremonial signing for a banking services agreement for the pilot run of the United Nations Central Emergency Response Fund (CERF) for Anticipatory Action on 06 October 2022 at the UNICEF Philippines Office in Mandaluyong City.
They were joined by UNICEF Deputy Representative for Programs Behzad Noubary and Deputy Representative for Operations Thomas Meyerer, alongside LANDBANK Senior Vice President Marilou L. Villafranca, and Assistant Vice Presidents Domingo Conrado G. Galsim and Renato R. Aquino.
Under the agreement, LANDBANK shall open an account on behalf of UNICEF for deposit and maintenance of funds among various banking services, including the crediting of multi-purpose cash transfers to the LANDBANK Prepaid Cards of identified Conditional Cash Transfer (CCT) Program beneficiaries.
“LANDBANK brings to the table our expertise as the distribution arm of the National Government’s social protection programs. This includes our extensive experience of delivering cash grants to the target sectors under the CCT and UCT (Unconditional Cash Transfer) programs covering 10 million beneficiaries nationwide,” said LANDBANK President and CEO Borromeo.
UNICEF Philippines Representative Dendevnorov said that the anticipatory approach reduces the costs of humanitarian response and allows affected populations to make informed decisions ahead of a humanitarian crisis.
“In this context, we can say that cash transfers provided through Financial Service Providers (FSPs) like LANDBANK can improve the speed, efficacy and security of humanitarian aid delivery,” said UNICEF Philippines Representative Dendevnorov.
Target beneficiaries under the pilot CERF for Anticipatory Action include families residing in the municipalities of Baras, Bato, San Andres and Virac in Catanduanes, as well as the municipalities of Catarman, Catubig, Gamay, Mondragon, and San Roque in Northern Samar.
The cash assistance worth P1,000 for each CCT beneficiary will be disbursed via LANDBANK Prepaid Cards, three days before the expected landfall of a Category 4 or 5 typhoon.
Beneficiaries can use the prepaid cards to withdraw cash assistance from LANDBANK automated teller machines (ATMs) and Agent Banking Partners, and make cashless purchases in groceries and drugstores via point-of-sale (POS) terminals.
LANDBANK recently upgraded the existing prepaid cards of the CCT beneficiaries into transaction accounts with expanded features to provide more convenient banking services, including cash card loading via LANDBANK branches, fund transfers through the LANDBANK Mobile Banking App, and cash-in via LANDBANK Cash Deposit Machines.
