ASEAN Newspapers: Sat., Sept. 12, 2020- MANILA- President Rodrigo Duterte signs P165-billion Bayanihan 2
Rody signs P165-billion Bayanihan 2
New law provides for cash-for -work scheme, farm loans, subsidy to poor
President Rodrigo Duterte on Friday signed into law the Bayanihan to Recover as One Act (Bayanihan 2) which provides for a P165 billion COVID-19 relief package.
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The bulk of the relief measure covers a P140 billion aid package for industries negatively impacted by the pandemic. A standby fund of P25.52 billion may be tapped by the government for additional COVID-related expenses before the 2021 budget takes effect.The measure includes cash for work and involuntary separation pay (P13 billion), loans for farmers (P24 billion), funding for government financial institutions that will extend soft loans to affected sectors (P39.47 billion), and funding for health-related response (P13.5 billion), among others.The law also provides for an emergency subsidy of P5,000 to P8,000 for qualified low-income households in areas under granular lockdown as well as households of displaced overseas Filipino workers who were repatriated to the country.
READ MORE: https://manilastandard.net/news/top-stories/333945/rody-signs-p165-billion-bayanihan-2.html
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The 2019 Plague” Day 288.
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9.12.2020
