President Rodrigo Duterte on Friday signed the Bayanihan to Recover as One Act to fund the continuous government response to COVID-19, according to his longtime aide, Sen. Bong Go.
Bayanihan 2 will take off from its predecessor, Bayanihan 1 or Bayanihan to Heal as One. The country's fight against the pandemic got a boost as it works to flatten the curve or slow the spread of the disease by the end of September.
See Also
Of the P140 billion Bayanihan 2, P39.5 billion will serve as capital infusion to government banks, while the standy P25.5 billion fund, once generated, will be allotted to testing and procurement of medication and vaccine.
Below is a breakdown of funds under the Bayanihan to Recover as One Act:
- Funding for government financial institutions - P39.47 billion
- Loans for farmers - P24 billion
- Health-related response - P13.5 billion
- Cash for work and involuntary separation pay - P13 billion
- Transportation programs - P9.5 billion
- Social welfare programs - P6 billion
- Hiring of contact tracers - P5 billion
- Construction of temporary isolation facilities - P4.5 billion
- Education sector's transition to new normal - P4 billion
- Maintenance of isolation facilities (hotel, food, transportation bills)- P4.5 billion
- Tourism industry assistance and programs - P4 billion
- Assistance for State Universities and Colleges - P3 billion
- Procurement of personal protective equipment - P3 billion
- Payment for local government loans - P2 billion
- Local Government Support Fund - P1.5 billion
- TESDA scholarship - P1 billion
- Foreign Affairs assistance to nationals fund - P820 million
- Allowances for qualified students - P600 million
- Allowances for displaced teachers, non-teaching personnel - P300 million
- Allowances for national athletes and coaches - P180 million
- Training and subsidies for tourist guides - P100 million
- UP computational research laboratory - P15 million
- Health Technology Assessment Council research fund - P10 million
- Professional Regulation Commission computer-based licensure exam: P2.5 million
- Standby fund - P25.52 billion
