DBM releases P100 billion cash aid for poor families

MANILA, Philippines — The Department of Budget and Management (DBM) has released P100 billion in funds for the provision of cash assistance to poor Filipino households adversely affected by the coronavirus disease 2019 (COVID-19) pandemic.

In a statement, DBM said P100 billion has been released to the Department of Social Welfare and Development (DSWD) for the Social Amelioration Program under Republic Act 11469 or the Bayanihan to Heal As One Act.

This forms half of the P200-billion total funding requirement to be used for the provision of subsidies to 18 million Filipino households in the next two months.

 “The released amount is expected to cover the first month requirements of the Social Amelioration Program that will cover almost 18 million Filipino households who have been identified to be mostly vulnerable to the economic shocks brought by the COVID-19 situation,” DBM said.

According to the agency, the released amount shall be used particularly for the protective services for individuals and families in especially difficult circumstances or assistance to individuals in crisis situations. This shall be extended to the target low-income household beneficiaries in the form of cash.

Meanwhile, the DBM, DSWD, Department of Agriculture, Department of Finance, Department of Labor and Employment, Department of Trade and Industry and the Department of Interior and Local Government issued Joint Memorandum Circular No. 1, Series of 2020 providing the streamlined and harmonized guidelines on the provision of special amelioration measures to the most affected residents in areas under community quarantine.

President Duterte earlier announced the provision of P5,000 to P8,000 cash aid to 18 million low-income household that have lost their sources of income due to the quarantine measures imposed by the government.

Finance Secretary Carlos Dominguez said that upon a review on the country’s financial position, the DOF identified that funds for this program can be made available quickly through various sources.

 “We have more than P100 billion worth of cash and cash equivalents in various GOCC (government-owned and -controlled corporations) accounts, and another P100 billion more in various national government accounts outside the Treasury Single Account (TSA),” the secretary said.

The government’s Economic Development Cluster (also unveiled a P27.1 billion program to help frontliners and provide economic relief to sectors affected by the spread of the disease.

Dominguez said the government is currently crafting another economic stimulus package and a rehabilitation plan to soften the damage caused by COVID-19 to the economy.