The Department of Budget and Management on Saturday announced that it has so far approved the release of around P18 billion in assistance as President Ferdinand “Bongbong” Marcos Jr. marks his 100th day in office.
Beneficiaries of the financial aid include the farmers affected by the Rice Tariffication Law, the most vulnerable households impacted by inflation, typhoon and earthquake victims, commuters, and Covid-19 frontliners.
In July, the DBM approved the release of the Notice of Cash Allocation amounting to P8,053,474,140 to the Department of Agriculture.
It is to fund the P5,000 in subsidy to 1,563,781 eligible rice farmers in the third and fourth quarters of 2022.
DBM said the release of the NCA is in line with the implementation of the Rice Farmers’ Financial Assistance program, to provide support to rice farmers affected by the Rice Tariffication Law.