A special financing fund, the restructuring of loan portfolios, and the deployment of direct logistical aid are part of the contingency plan implemented by Bancamiga following the earthquakes that struck the country on Wednesday, June 24.

The humanitarian assistance program aims to mitigate the material damage suffered, with a special focus on the state of La Guaira. Immediate humanitarian assistance has included the shipment and distribution of drinking water, milk, mattresses, household goods, and non-perishable food items to this region.

Similarly, to centralize the receipt of supplies and coordinate support, 50 branches nationwide were designated as collection centers.

On the financial front, the strategy aims to safeguard the distribution chain of essential goods and provide liquidity to the affected productive sectors.

Current loans: Bancamiga will restructure terms and adapt payment plans to the actual recovery capacity

Bancamiga established a business and commercial recovery fund of $5 million, intended to provide financing under special conditions to merchants and business owners whose inventories or premises suffered damage, primarily in the state of La Guaira.

In parallel, a review of existing loans for clients impacted by the earthquake has begun in order to restructure their terms and adapt payment plans to their actual recovery capacity.

Business operations will also be maintained through the daily settlement of transactions processed through Bancamiga point-of-sale terminals.

The plan also includes the temporary waiver of fees on digital channels to expedite the transfer of funds between individuals. During the contingency, Mobile Payment transactions of Bs. 150,000 or less will not generate commissions, while the Solución Amiga service will operate without deductions to allow the immediate entry of funds from abroad.

The technological platforms and customer service channels remain operational to support the flow of essential banking services, the Venezuelan banking and financial institution concluded in a statement.

With information and images for illustrative purposes courtesy of Bancamiga Banco Universal

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