DBM OKs over P7 billion cash aid release for more than 7 million poor Filipinos
MANILA, Philippines — The Department of Budget and Management (DBM) has approved the release of P7.68 billion to fund the Targeted Cash Transfer Program (TCT) of the Department of Social Welfare and Development (DSWD).
DBM on Thursday said its chief Secretary Amenah Pangandaman approved the special allotment release order for the fund on May 16, Tuesday that would benefit over 7.5 million indigent beneficiaries.
“Hindi po natin pababayaan ang mga kababayan nating nangangailangan. We will help ensure that our fellow Filipinos, especially those who are vulnerable or in need, will be given care and support,” Pangandaman said in a statement.
(We will not abandon fellow Filipinos who are in need.)
In the fiscal year 2022, DBM released a total of P19.43 billion to the DSWD, covering four out of six monthly fund requirements for the TCT.
The P7.68 billion fund recently approved for release covers the remaining two-month period of the TCT.
The program provides a P500-grant per month to beneficiaries, including administrative costs and bank charges.