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DBM releases P5.2 billion for cash transfer program

PHILIPPINE STAR/ EDD GUMBAN

THE Department of Budget and Management (DBM) said on Tuesday that it released P5.2 billion to fund cash transfers for 9.8 million beneficiaries.

“The DBM fully supports the projects and programs that provide social assistance to our fellow Filipinos,” Budget Secretary Amenah F. Pangandaman said in a statement.

The funds cover one month worth of cash transfers administered by the Department of Social Welfare and Development (DSWD).

The program grants P500 per month for 6 months to vulnerable households to mitigate the effects of rising prices.

The DBM earlier released a total of P10.33 billion to the DSWD covering two months of cash transfers for 10 million households.

The program is estimated to cost P9.1 billion overall for the initially identified 9.8 million beneficiaries, plus an additional 2.6 million who will get three months’ worth of payments.

The DBM said the release was charged to unprogrammed appropriations, which may be tapped only if funds are available. — Luisa Maria Jacinta C. Jocson

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