MANILA: State-owned Land Bank of the Philippines (LandBank) has unveiled a new loan facility aimed at providing financial assistance to pensioners and government employees. The initiative, called the Pension and Emergency Relief (PeER) loan facility, was announced in a statement on Thursday by the bank. According to Philippines News Agency, the PeER loan facility enables borrowers to secure loans ranging from PHP20,000 to PHP100,000 to cover emergency expenses, medical needs, and other immediate financial requirements. The loans will carry an interest rate of 10 percent per annum, offering a viable financial option for those in need. The facility offers two distinct loan options: a pension loan available to qualified clients holding LandBank pension accounts, and an emergency relief loan for regular government employees who have LandBank payroll accounts and at least one year of service. This dual-option approach is designed to cater to the specific needs of these two groups. LandBank has assured that inte rested clients can easily apply for these loans at any of its branches or by contacting the bank's customer service hotline. LandBank President and CEO Lynette Ortiz emphasized the bank's commitment to supporting its clientele, stating, "We are committed to expanding our accessible services for our diverse clientele, including financial relief during critical circumstances." She further explained that the PeER Loan Facility is tailored to provide timely financial assistance to help clients in times of urgent need.