Steady Cash Flow in Yolanda Hit Areas to Boost Rebuilding Efforts by Philippine Inquirer
Several officials from the government and private sectors have agreed on one step towards normalcy for Supertyphoon “Yolanda”-stricken areas – the circulation of cash among banks and businesses.
In a forum at the Landbank Plaza in Malate on Wednesday about reviving commerce in the affected areas, Landbank and Smart said that keeping the cash flow would be the first step toward the path of normalcy.
“This job has just begun,” said Napoleon Nazareno, president and CEO of Smart and PLDT.
Landbank President and CEO Gilda Pico said the state bank has P30 billion in funds to support disasters in the Philippines and the bank is ready to mobilize cash in the affected areas.
“I am confident that this program will help our countrymen,” Pico said.
In a joint effor, PLDT, Smart and Landbank opened the first mobile automated teller machines in Tacloban to “bring in cash…in the most secure manner.”
“We need to come together,” said Nazareno. “We should have better coordination with the government.”
The forum also served as the venue of the turnover of 40 Smart Broadband Pocket WiFi with load credits to the Department of Social Welfare and Development to speed up communication in Eastern Visayas.
Easy Access to Funds
Lito Villanueva, Innovation, Ecosystem Build and Alliances Head of Smart e-Money Inc., said affected residents would have easier access to cash loans as requirements have been reduced to providing the name, address and birthday for the prospective applicants.
“Cash assistance will now be more effective than relief goods,” Villanueva said who presented the program for Landbank’s cash transfers.
Villanueva said Landbank would offer Mobile cash transfers for the cash-for-work and build-for-work programs.
Also, Mobile vouchers are being offered to “sari-sari” stores to enable them to buy goods from manufacturers.
Lastly, Landbank is also offering the Mobile micro-enterprise that will provide start-up kits for small businesses.
Working in Camaraderie
Rapa Lopa, Executive Director of Philippine Business for Social Progress, said that his group has met with several companies, Coca-Cola, Pepsi, Procter and Gamble, and Nestle among them, to help clients in the affected areas.
“They are independently moving (companies), they are actually helping the stores providing start-up kits,” Lopa said.
He added that they were looking to revive drop off points for products, especially in market places.
“We are encouraging the companies to formulate a solution for the markets and the desire to revive the businesses in the affected areas.”
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