MILLION-PESO LOAN PACKAGE
By: Jovic Yee, Philippine Daily Inquirer, May 02, 2017
Officials of the Department of Transportation and Department of Finance signed on Sunday an agreement for a financing mechanism for drivers who would be affected by the government’s jeepney modernization program.
Transportation Secretary Arthur Tugade dubbed the agreement, which was signed on the eve of Labor Day, “a gift” from President Duterte to public utility vehicle drivers who have been asking what assistance they would get from the government with the phaseout of old jeepneys.
Under LandBank’s special program for environment-friendly and efficiently-driven jeepneys, drivers can avail themselves of a P1.4 million- to P1.6 million-loan package to buy either an air-conditioned electric, hybrid or Euro-4 jeepney.
LandBank president Alex Buenaventura said that the driver could end up owning the jeepney since he would be the listed borrower for the loan which must be paid within seven years at an interest rate of 6 percent.
He added that the financing scheme would be similar to the traditional boundary system as drivers would pay the bank P800 daily through its designated cash deposit machines.
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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