INQUIRER FILE PHOTO
MANILA, Philippines – More than half of the P144 billion funds under the Disbursement Acceleration Program (DAP) were allocated to the Bangko Sentral ng Pilipinas (BSP), the Department of Public Works and Highways (DPWH), and the National Housing Authority (NHA), President Benigno Aquino III revealed on Tuesday.
Aquino, who spoke at the Daylight Dialogue in Malacañang, had a slightly different speech for Tuesday’s audience composed of businessmen, development experts and government officials.
Instead of highlighting the classrooms and energized villages funded by the controversial DAP, as he did on Monday night as he addressed the public, Aquino on Tuesday emphasized the contributions of DAP to good governance and inclusive growth.
Biggest allocations
He recalled that while the New Central Bank Act of 1993 mandated a P50-billion recapitalization for the BSP, only P10 billion was initially released.
“We filled that deficit: 10 billion pesos under the General Appropriations Act, and the remaining 30 billion pesos under the Disbursement Acceleration Program,” the President said
He said the additional funds allowed BSP to fully function and benefit the economy.
Another P33 billion was allotted for the DPWH’s road and bridge construction, flood control projects and other infrastructure.
“This helped boost the growth and effectiveness of industry; it made it easier for tourists to reach favored destinations; it helped make the Philippines a more attractive destination to investors,” he added.
DAP also gave Filipinos safer homes, Aquino said.
The P11 billion allotted to the National Housing Authority through DAP resulted in 700 new homes for former residents of North Triangle in Quezon City and 1,000 housing units for those living along the Iloilo River.
The President said, “21,175 housing units were completed—with 3,742 more units still under construction—for families living in danger zones in the National Capital Region.”
Meanwhile, a total of 2,498 housing units were provided for employees of the Bureau of Fire Protection and the Bureau of Jail Management and Penology.
The Supreme Court declared parts of DAP unconstitutional on July 1. However, Aquino on Monday assailed the decision, insisting that the program was legal and had benefited the people.
Based on the list published by the Department of Budget and Management, below are the 11 items or projects that received the biggest DAP allocations:
|
Top 11 Projects/Programs/Items funded by DAP |
Amount Released |
|
|
|
|
DOF-BSP: Additional Equity Infusion to the BSP’s Authorized Capital Stock |
20,000,000,000 |
|
NHA: On-Site Development for Families Living along Dangerous Areas |
10,000,000,000 |
|
BSP: First Equity Infusion out of P40B capitalization under the BSP law |
10,000,000,000 |
|
ARMM: Comprehensive Peace and Development Intervention |
8,389,954,000 |
|
Other Various Infrastructure Projects |
8,061,461,000 |
|
LGU Support Fund |
6,499,100,000 |
|
Other Various Local Projects |
6,490,794,000 |
|
DPWH: Various Infrastructure Projects |
5,500,000,000 |
|
GOCCs/DPWH/LGUs: Priority Local Projects Nationwide |
4,459,881,000 |
|
DepEd: Public Private Partnership for School Infrastructure Project Phase II |
4,070,722,000 |
|
GSIS-DepEd: GSIS Premium Payments for DepEd Personnel |
3,461,695,000 |
RELATED STORIES
Escudero, Poe on Aquino’s defense of DAP: The law is the law