Bayanihan 2 fund releases reach P108 billion

Total funds released under the Bayanihan to Recover as One Act reached 107.96 billion pesos until the law’s expiration on December 19, the Department of Budget and Management said.

DBM data showed 103 billion pesos was charged against the 140-billion-peso stimulus package under the law, leaving 37 billion pesos yet to be deployed to key implementing agencies.

The remaining five billion pesos came from regular funds under the 2020 General Appropriations Act.

Earlier, DBM Assistant Secretary Rolando Toledo said the agency had temporarily stopped the release of funds pending the President’s signing of a law, which will extend the validity of the stimulus funds under Bayanihan 2.

Broken down, The DBM said 23 billion pesos of the total Bayanihan 2 releases went to the Department of Agriculture, the highest among all agencies so far. The amount was used for the implementation of projects under the Agriculture Stimulus Package.

Source: https://www.philstar.com/business/2020/12/30/2066980/bayanihan-2-fund-releases-reach-p108-billion

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