By Francis Allan L. Angelo
The Department of Finance (DOF) and Government Financial Institutions (GFIs) have initiated measures to provide rapid assistance to Filipinos affected by Typhoon Carina and to aid in the reconstruction of damaged areas.
Finance Secretary Ralph G. Recto emphasized the government’s commitment to quick recovery efforts.
“I assure the Filipino people that the DOF and the GFIs are one with you. We are doing everything we can to make sure that we have immediate funding, as well as safety measures in place to help everyone recover from this calamity. Together, we will quickly rebuild and regain what we have lost,” Recto said.
The DOF announced the availability of a USD 500 million standby credit line to support the delivery of essential services such as healthcare, food, and shelter to those impacted by the typhoon.
The funding will also be used for post-disaster emergency response, recovery, and reconstruction efforts.
As part of the Disaster Risk Finance strategy, the Bureau of the Treasury (BTr) plans to file a claim under the National Indemnity Insurance Program (NIIP) for damages amounting to PHP 308.5 million sustained by 45 public schools across eight regions.
The Department of Education (DepEd) will use the funds from this claim to repair and rebuild the affected schools.
The Bureau of Internal Revenue (BIR) has extended the deadline for value-added tax (VAT) and percentage tax payments, as well as other reportorial requirements for taxpayers severely affected by the typhoon. The new deadline for selected Regional District Offices (RDOs) is July 31, 2024.
In parallel, the Bureau of Customs (BOC) is evaluating its inventory of seized goods, food, and agricultural products to determine which items can be safely donated to typhoon victims.
The Social Security System (SSS) and the Government Service Insurance System (GSIS) are also extending financial assistance through calamity and emergency loans.
The SSS is offering calamity loan assistance to members in the National Capital Region (NCR) and other areas declared under a state of calamity.
Eligible members can borrow up to PHP 20,000, equivalent to their one-month salary credit, and can apply online through the SSS website.
Loan proceeds will be credited to their registered Unified Multi-Purpose Identification (UMID)-ATM Card or a Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating bank.
Similarly, the GSIS will offer Emergency Loans (EML) from July 26, 2024, to October 28, 2024, with a total allocation of PHP 18.5 billion to benefit around 864,089 members and pensioners in calamity-declared areas.
Members can apply for a maximum loan of PHP 20,000 through the GSIS Touch mobile app or GSIS Wireless Automated Processing System (GWAPS) kiosks.
These measures highlight the collaborative efforts of various government agencies to provide swift and comprehensive aid to those affected by Typhoon Carina.
