DBM releases initial P1-B to local governments ravaged by 'Odette'
MANILA, Philippines — A day before Christmas, the Department of Budget and Management has released P1 billion in taxpayers' money to regions destroyed by Typhoon "Odette".
In a statement on Friday, the DBM said the initial funds released were allotted to six regions that saw the worst effects of Odette's devastation in the past week.
According to a report by GMA News, the budget department is allocating local government units in Western Visayas (Region 6) P207.25 million, Central Visayas (Region 7) with P188.31 million, Mimaropa (Region 4-B) P171.57 million, Caraga (Region 13) with P167.38 million, Eastern Visayas (Region 8) P142.5 million and lastly, Northern Mindanao (Region 10) with P122.99 million in financial assistance.
These regions were all placed by President Rodrigo Duterte under a state of calamity.
The DBM computed allocations for these areas based on the report of the Disaster Response Operations Monitoring and Information Center on the number of affected families, persons and based on damages that the infrastructure and agriculture sectors endured.
The central bank said that agriculture production and tourism-related activities will face disruptions until 2022 as a result of Odette's wrath, which affected areas that represent 36% of the country's gross domestic product.
Figures from the national government estimate the damage on public works and infrastructure in Odette-ravaged areas at P225 million, while the agriculture sector incurred losses of P163 million, which could possibly mount as soon as reports come in.
The estimated economic damage reached P388 million based on preliminary reports on December 21.
According to the DBM, the total funding requirement was charged from the 2021 Contingent Fund, which will be disbursed directly by the Treasury department to LGUs.
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