DBM releases ₱6.2-billion cash aid for poor affected by rising costs

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Metro Manila (CNN Philippines, July 1) – The Department of Budget and Management (DBM) has released ₱6.2 billion funds for the first tranche of cash subsidy for the poorest 50% of the country’s population affected by rising costs of fuel and other commodities.

In a statement on Friday, the DBM said around six million beneficiaries of the Department of Social Welfare and Development’s Targeted Cash Transfer program will receive ₱1,000 cash aid for the first tranche.

Also included in the tally are about two million social pension beneficiaries and four million households covered by the Pantawid Pamilyang Pilipino Program.

The financial assistance is set to be distributed in three tranches, where each beneficiary will receive ₱500 monthly cash subsidy for six months. Each tranche will run for two months.

“The DBM will ensure the timely and prudent release of funds and work closely with all implementing agencies to help ease the burden of the vulnerable population most affected by global crises,” the department said in a statement.

Beneficiaries will receive their aid through cash cards issued by Landbank of the Philippines or other approved modes of distribution.

Last March, the government under former President Rodrigo Duterte provided a cash aid of ₱200 for poor households amid the surge in fuel prices. 

Duterte appealed to the Department of Finance to increase the cash assistance to ₱500 to cushion the effect of fuel price hikes, but it never materialized until he stepped down from power on Thursday.