The Department of Finance (DOF) is boosting the country’s disaster response by financing calamity funds to ensure the rapid delivery of relief and the immediate rehabilitation of communities affected by recent earthquakes and typhoons.
This is in line with President Ferdinand R. Marcos, Jr.’s directive to ensure swift disaster response and recovery efforts to protect the welfare of every Filipino.
“Mahalaga na laging may nakahandang pondo ang gobyerno para sa agarang tugon sa mga emergencies. Bilang pambansang fundraiser, sinisiguro namin sa DOF na tayo ay may sapat na pondo at kakayahan na agad na tugunan ang pangangailangan ng bawat Pilipino sa oras ng kalamidad,” Finance Secretary Ralph G. Recto.
As of November 9, the national government has already released PHP 17.85 billion under the National Disaster Risk Reduction and Management Fund (NDRRMF).
Appropriated every year, the NDRRMF supports disaster risk reduction, prevention, and preparedness activities, as well as immediate aid, relief, and rehabilitation services after a calamity.
Annually, the national government also sets aside resources for the Quick Response Fund (QRF) in the national budget, allocating them to key government agencies as a standby fund for the rehabilitation and recovery of communities affected by calamities and other national emergencies.
As of November 10, the national government has already released PHP 13.96 billion under the QRF, including continuing appropriations from 2024.
The latest QRF release in November amounted to PHP 1.68 billion to support immediate relief, rehabilitation, and recovery efforts across regions affected by the onslaught of recent earthquakes and Typhoon Tino and Supertyphoon Uwan.
The Department of Agriculture (DA) will receive the bulk amounting to PHP 1 billion to strengthen its recovery and rehabilitation programs in regions affected by African swine fever and the recent tropical cyclones.
Meanwhile, the Department of Social Welfare and Development (DSWD) and the Philippine Coast Guard (PCG) will receive PHP 631.03 million and PHP 53.01 million, respectively.
The DSWD will use the funds to provide family food packs, non-food essentials, relief goods, and emergency cash transfers to 58,962 families. Meanwhile, the PCG will ramp up its relief, rehabilitation, and search-and-rescue operations in calamity-stricken areas.
Aside from ensuring sufficient funding for the country’s recovery, Secretary Recto also recently issued a DOF circular ordering government financial institutions (GFIs) and government-owned and controlled corporations (GOCCs) to expedite the roll-out of services and ground support to the affected areas.
Several GOCCs and GFIs have quickly responded to this call. Last month, Secretary Recto and LANDBANK President and CEO Lynette Ortiz personally handed over a total of PHP 5.8 million worth of cash assistance to the local government units (LGUs) in Cebu to support earthquake-affected families. They also distributed 2,600 packs of relief goods.
The Finance Chief also headed to Davao Oriental to hand over cash assistance totaling PHP 900,000, and led the distribution of 1,000 grocery packs to displaced families in Mati City and Manay.
In response to the directive of Secretary Recto, the Government Service Insurance System (GSIS) and the Social Security System (SSS) are also providing qualified members and pensioners with emergency and calamity loans.
The Home Development Mutual Fund (HDMF) is also extending calamity loans and insurance claims for affected housing loan borrowers. Members with minor property damage may access short-term loans for immediate repair and recovery.
Meanwhile, LANDBANK facilitated salary loans for employees of government agencies and private companies with the state bank’s payroll accounts in affected regions.
The state bank is also providing affected farmers, fishers, cooperatives, MSMEs, corporations, and electric distribution utilities with access to recovery loans to help restore business operations.
The Development Bank of the Philippines (DBP) is likewise providing financial assistance to LGUs affected by various natural calamities and offering rehabilitation of loans and extended payment terms.
The Philippine Crop Insurance Corporation (PCIC) has activated coverage for farmers affected by the earthquakes, protecting against agricultural losses caused by natural calamities.
The Small Business Corporation (SBCorp) is extending support to MSMEs through its Enterprise Rehabilitation Financing (ERF) program to recover from damage to fixed assets, inventory losses, and operational disruptions.
