Duterte OKs release of P2.5B from OP contingency fund to buy vaccines
MANILA, Philippines — President Rodrigo Duterte has approved the release of P2.5 billion from the contingency fund of the Office of the President (OP) for the procurement of COVID-19 vaccines, Budget Secretary Wendel Avisado said Saturday.
“Kaka-approve lang ng ating Pangulo ng 2.5 billion, equivalent to US $56 million, chargeable against the 2021 contingency fund,” he said in a Laging Handa public briefing.
(The President has just approved P2.5 billion, equivalent to 56 million US dollars, chargeable against the 2021 contingency fund.)
“Ang amount na ito will cover the payment of around four million doses of vaccines and its corresponding logistical and administrative cost which is expected na ma-deliver ngayong buwan,” he added.
(This amount will cover the payment of around four million doses of vaccines and its corresponding logistical and administrative costs, which are expected to be delivered this month.)
Avisado said he has released a special allotment release order and notice of cash allocation to the Department of Health (DOH) for this.
Avisado said the contingency fund of the OP was tapped to support the government’s allocated funds to procure COVID-19 vaccines.
“Hindi lang talaga P82.5 billion ang gagastusin natin ngayong taon para sa pagbili ng vaccines kaya nga ba pati contingency fund ay kailangan nang gamitin,” he said.
(We will not only use P82.5 billion to buy vaccines this year. that is why have to use the contingency fund.)
Under the 2021 national budget, the government has allocated a P82.5 billion budget for the procurement of COVID-19 vaccines, of which P2.5 billion will come from the budget of the DOH and P10 billion will come from the Bayanihan 2 law.
The P70 billion, meanwhile, will come from loans. So far, the Philippines has inked loan agreements amounting to 1.2 billion US dollars for its vaccine purchase.
Avisado said the Department of Budget and Management has so far released P59.39 billion to the DOH from the loan agreements with multilateral institutions such as the Asian Development Bank, World Bank, and the Asian Infrastructure Investment Bank.
He clarified that funds from loans will no longer pass through the national government and will directly be transferred from the lenders to the vaccine manufacturers.
The Philippines has so far received 8.2 million worth of vaccine doses from different manufacturers.
Avisado said only P13 billion of the Office of the President’s contingency fund can be used by the government this year, upon the approval of the President.
This will cover the funding requirements of new and urgent measures and activities or projects of the national government, he said.
/MUF
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