DBM releases P6.2B 'ayuda' for poor households
MANILA, Philippines — The Department of Budget and Management (DBM) said on Friday that it has released P6.20 billion worth of financial aid which is seen to benefit six million beneficiaries affected by the rising prices of commodities, including fuel.
The disbursement marks the first tranche of the Philippine government's Targeted Cash Transfer program led by the Social Welfare department.
Under the first batch of cash aid, eligible individuals will each receive P500 worth of subsidies per month over a span of six months, which will be distributed in three tranches.
"This implies they are expected to receive P1000 for the first tranche, which will be distributed through the cash cards issued by the LandBank of the Philippines or other approved modes of distribution," DBM said in an emailed statement on Friday.
Recipients of the cash aid are part of the poorest 50% of the country's population, including four million households under the Pantawid Pamilyang Pilipino Program and two million social pension beneficairies, the department added.
DBM assured of the timely and prudent release of the funds, and vowed to work closely with implementing agencies to ease the burden of poor households.
This year, Filipino households had to deal with fuel price spikes partly worsened by the geopolitical war between Russia and Ukraine, the rising costs of goods and basic commodities and quickening inflation. — Angelica Y. Yang
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