Philippines’ Financial Industry and NGO Groups Link for Faster COVID-19 Subsidy Delivery


Private companies join hands in support of the government’s social amelioration program to Filipinos severely affected by the COVID-19 enhanced community quarantine (ECQ) through the promotion of alternative encashment facilities nationwide.

In an agreement signed today, an operational plan was formed among groups of rural banks, cooperatives, and microfinance institutions non-government organizations, and a payment collection company to provide alternative option to quickly disburse government’s over P200 billion emergency subsidy to over 18 million families through the use of RCBC’s pocket and mobile automated teller machine (ATM) known as ATM Go. This collaboration was called Damayang Sambayanihan: Hatid-Ayuda sa Kababayan.

Signatories of the memorandum of understanding were Rural Bankers Association of the Philippines (RBAP), MASS-SPECC Cooperative Development Center (MASS-SPECC), National Confederation of Cooperatives (NATCCO), CIS Bayad Center, Inc., and RCBC. The combined branch network and customer touchpoints of these partners exceeds 5,000 throughout the country.

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