A TOTAL of P3.5 billion remains in the balance of the country’s calamity fund to provide relief and rehabilitation services to areas affected by disasters, according to the Department of Finance (DOF).
In a statement on Wednesday, the DOF said the government has released P17.85 billion under the P21-billion National Disaster Risk Reduction and Management Fund (NDRRMF) this year.
The NDRRMF, also referred to as the calamity fund, supports disaster risk reduction, prevention and preparedness activities, as well as immediate aid, relief and rehabilitation services after a calamity.
The government also allocates funds to the Quick Response Fund (QRF) in the national budget, which serves as a standby fund for the rehabilitation and recovery of communities affected by calamities and other national emergencies.
As of November 10, the government has already disbursed P13.96 billion under the QRF, including continuing appropriations from last year.
In November alone, the government released P1.68 billion to support immediate relief, rehabilitation and recovery operations across the country, in areas affected by recent earthquakes and Typhoon Tino and Supertyphoon Uwan.
‘It is important for the government to always have funds ready for an immediate response to emergencies. As the country’s fundraiser, we at the Department of Finance ensure that we have sufficient resources and the capacity to promptly address the needs of every Filipino during times of disaster,’ Finance Secretary Ralph G. Recto was quoted as saying.
Beyond securing funds, Recto recently issued a DOF circular directing government financial institutions and other state-run firms to speed up the delivery of services and on-the-ground assistance in areas affected by disasters.
The Government Service Insurance System (GSIS) and the Social Security System (SSS) are providing emergency and calamity loans to eligible members and pensioners.
Meanwhile, the Home Development Mutual Fund, also known as Pag-Ibig Fund, is providing calamity loans and insurance claims to affected housing loan borrowers, including short-term loans for minor property repairs.
Land Bank of the Philippines is also facilitating salary loans for employees of government agencies and private companies in disaster-hit areas, while also offering recovery loans to farmers, fishers, cooperatives, small businesses, corporations and electric utilities to help restore their operations.
Furthermore, the Development Bank of the Philippines is assisting affected local government units with financial assistance and loan rehabilitation with extended payment schedules.