Bayanihan 2 fund to help rebuild economy from coronavirus – Palace

By Prince Golez

Malacañang expressed confidence that the stimulus fund under the proposed Bayanihan to Recover as One Act will help revive the country’s pandemic-hit economy.

In his virtual presser Monday, Presidential Spokesperson Harry Roque said the House of Representatives is expected to ratify the Bayanihan 2 bill today.

The Senate ratified on Thursday the measure that aims to address the effects brought by the coronavirus disease pandemic.

“Naratipikahan din ng Senado noong Huwebes ang bicameral report ng Bayanihan II o Bayanihan to Recover as One Act. Ngayong araw naman inaasahan na raratipikihin ang bicameral report ng mababang kapulungan ng Kongreso,” according to Roque.

“Mataas po ang ating kumpyansa na malaki ang maitutulong ng Bayanihan 2 sa muling pagbangon ng ating ekonomiya,” he added.

Under the Bayanihan 2, the P165.5-billion stimulus plan is broken down as follows:

*P13.5 billion for health-related responses

*P3.5 billion for procurement of face masks, personal protective equipment, shoe covers and face shields

*P4.5 billion to finance the construction of temporary medical isolation and quarantine facilities, field hospitals, dormitories for frontliners and for the expansion of government hospital capacity

*P13 billion for cash-for-work programs for displaced workers and other support programs

*P39.472 billion for capital infusion for government financial institutions

*P24 billion for assistance to Agriculture sector and Plant Plant Plant initiative

*9.5 billion to finance the Department of Transportation programs

*100 million to finance the training and subsidies for tourist guides

*P3.5 billion to assist state universities and colleges in the development of smart campuses

*P600 million for subsidies and allowances to qualified students

*P300 million for subsidies and allowances of displaced teaching and non-teaching personnel

*P1 billion for additional scholarship funds of Technical Education and Skills Development Authority

*P6 billion to finance Department of Social Welfare and Development programs

*P4 billion to assist the Department of Education in the implementation of Digital Education, IT and Digital Infrastructures and Alternative Learning Modalities assist SUCs in the development in smart campuses

*P1.5 billion for assistance to local government units (LGUs)

*P180 million to finance the allowances for National Athletes and Coaches

*P820 million for assistance to overseas Filipino workers under DFAA

*P4 billion for tourism industry

*P4.5 billion for the construction and maintenance of isolation facilities

*P5 billion to finance the hiring of contact tracers

*P2.5 million for PRC’s computer-based licensure examination

*P2.5 billion to subsidize the payment of interest on new and existing loans secured by the LGUs from the Land Bank of the Philippines and Development Bank of the Philippines

*P10 million for Covid-19 research

*P15 million for the establishment of a computational research laboratory in the UP Diliman Institute of Mathematics to process big data analysis for Covid-19 and other pandemic research

Of the P25-billion standby funds, Roque said that P10 billion will be allocated to Covid-19 testing and procurement of medication and vaccine.

“Makakaasa ang taumbayan na bawat sentimo ay mabibilang at magagamit sa tama. Ito po ay makakarating sa taong lubhang apektado ng Covid-19 at mga sektor na tinamaan ng pandemiya,” he concluded.

The post Bayanihan 2 fund to help rebuild economy from coronavirus - Palace first appeared on Latest Philippine politics news today.

Source: Latest Politics News Today (Politics.com.ph)