BusinessWorld Online
Gov’t releases P132B in realigned funds vs novel coronavirus
President Rodrigo Duterte announced that the Philippine government has released P132.3 billion to fund the country's COVID-19 response efforts.
These funds were drawn from P189.82 billion in pooled savings from discontinued government programs and activities in the 2019 and 2020 national budgets.
The Department of Social Welfare and Development received P100 billion for its social amelioration program, and the Department of Labor and Employment received P1.5 billion for displaced workers.
Cities and municipalities were allotted P30.82 billion in financial aid for their local COVID-19 response capabilities under the "Bayanihan Grant to Cities and Municipalities" program.
The Land Bank of the Philippines has remitted P63.6 billion in cash balances from various government agencies to the Bureau of the Treasury.
The Philippine Charity Sweepstakes Office (PCSO) has donated P290 million to COVID-19 referral hospitals and approved P447 million for financial assistance to 81 government hospitals.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Department of Budget and Management (DBM) has identified P189.82 billion in unreleased appropriations from the 2019 and 2020 budgets that can be discontinued to fund the government's COVID-19 response.
Read more →
The Philippine government is actively seeking and allocating funds to address its response to the COVID-19 pandemic, having already released P132.3 billion.
Read more →
The Philippine government aims to raise P1.17 trillion, equivalent to 5% to 6% of the country's GDP, to fund its COVID-19 response and mitigate economic effects.
Read more →
President Rodrigo Duterte admitted that the P275-billion coronavirus response fund is not yet on hand, as it is still to be collected in the second, third, and fourth quarters of the year.
+1
Read more →
The Department of Budget and Management (DBM) is set to release P30.8 billion in financial aid to cities and municipalities to support their COVID-19 relief and response efforts.
Read more →