Philippine News Agency
House panel OKs extension of Bayanihan 2 validity till June 2021
Two congressional leaders proposed extending the validity of the Bayanihan to Recover as One Act (Bayanihan 2) until March or June 2021.
Bayanihan 2, which provided up to P165 billion in pandemic assistance, is set to expire on December 19.
The House Committee on Appropriations approved extending the validity of Bayanihan 2 until June 30, 2021.
As of Friday, P102 billion of the total P165-billion appropriation under Bayanihan 2 has already been released by the Department of Budget and Management (DBM).
The Bayanihan 2 law allowed President Rodrigo Duterte to realign the budget of respective agencies to fund the country's COVID-19 response.
It includes P10 billion for COVID-19 testing, medication, and vaccine procurement, and P15.52 billion for additional capital infusion to government banks.
Additionally, P50 billion is allocated to government financial institutions for soft loans to affected sectors.
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The House of Representatives approved House Bill 8063 on final reading, extending the availability of funds under the Bayanihan to Recover As One Act (Bayanihan 2) until June 30, 2021.
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The Senate approved on final reading measures to extend the availability of P148 billion in unspent funds under the 2020 national budget and Bayanihan 2.
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The House of Representatives approved on third and final reading House Bill 6656, extending the validity of the 2020 national budget until December 31, 2021.
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Senate Minority Leader Franklin Drilon supports the extension of the 2020 General Appropriations Act (GAA) and the Bayanihan to Recover as One Act into next year, but he expressed concerns about the government's funding capacity.
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Senate President Pro Tempore Ralph Recto has filed a proposed Bayanihan 3 bill, amounting to P485 billion, to aid in the Philippines' economic recovery from the COVID-19 pandemic and recent typhoons.
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