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.
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: