Davao oriental: The Government Service Insurance System (GSIS) is now accepting emergency loan applications from members and pensioners in Davao Oriental affected by the magnitude 7.4 earthquake. GSIS President and General Manager Wick Veloso said this would help government workers and retirees recover from the disaster.

According to Philippines News Agency, GSIS remains committed to supporting government workers and retirees, especially during crises. Veloso emphasized the organization's mission to assist its members and pensioners in recovering and rebuilding after the calamity.

The application period for the emergency loans is open until December 14. The state pension fund has allocated over PHP5.4 billion in emergency loans for more than 224,000 active members and old-age or disability pensioners across regions affected by recent calamities. These areas include the provinces of Cebu, Masbate, Oriental Mindoro, Romblon, Cagayan, Ilocos Norte, and Maguindanao del Sur, as well as Dagupan City in Pangasinan.

GSIS has eased its requirements, allowing applications once a local government declares a state of calamity. Qualified active members must be working or residing in the affected areas, have no due and demandable GSIS loan, and maintain at least PHP5,000 in monthly take-home pay after deductions. They must also be in active service, with no pending administrative or criminal case, and must have paid premiums for the past six months. Old-age and disability pensioners are eligible for the loan, provided they retain at least 25 percent of their monthly pension after deductions.

Members with existing emergency loans may borrow up to PHP40,000, with PHP20,000 allocated to pay the previous balance, while those without any existing loan may borrow PHP20,000. The loan is repayable in 36 monthly installments at six percent annual interest and is covered by loan redemption insurance that considers the loan fully paid in the event of the borrower's death, provided payments are current.