Connect with us

Hi, what are you looking for?

Stock Markets

Calamity funds worth P3 billion released by end of March — DBM

LGU PANDAN-MAYOR’S OFFICE 

CALAMITY FUNDS worth P3.41 billion have been released as of the end of March to fund relief operations and repairs to infrastructure that had sustained typhoon damage, the Department of Budget and Management (DBM) said.

In its National Disaster Risk Reduction and Management Fund (NDRRMF) status update, P2.01 billion was disbursed to the Department of Social Welfare and Development (DSWD), while the Department of Public Works and Highways (DPWH) received P1.4 billion.

The DBM said that P875 million was released to the DSWD to replenish the Quick Response Fund, a stand-by fund to support relief and rehabilitation efforts during calamities.

The DPWH received P408.34 million for infrastructure repairs in the Cagayan Valley, which was hit by Typhoon Egay last year.

The DPWH also received P177.37 million for the rehabilitation and restoration of infrastructure damaged by Typhoon Paeng in 2022.

The DBM has yet to release P19.32 billion out of this year’s P22.74-billion NDRRMF budget.

A total of P19.74 billion in calamity funds was released to agencies last year, the DBM said. — Beatriz Marie D. Cruz

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Finance

<?xml encoding=”utf-8″ ?????????> Recent revelations from internal meetings at Meta, the parent company of Facebook and Instagram, have shed light on discussions among managers,...

Stock Markets

PHILIPPINE STAR/KRIZ JOHN ROSALES THE DEPARTMENT of Budget and Management (DBM) on Thursday said it approved the release of P5.83 billion to help build...

Finance

<?xml encoding=”utf-8″ ?????????> In a strategic move to solidify family control over the LVMH luxury conglomerate, Bernard Arnault, the world’s wealthiest individual, has elevated...

Stock Markets

LISTED Metro Retail Stores Group, Inc. has opened a new distribution center in Santa Rosa, Laguna, as part of its expansion strategy in Luzon....

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Captain Of Success. All Rights Reserved.