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Manila Bulletin devider Philippines devider National devider DBM releases P7.6 B to fund TCT

DBM releases P7.6 B to fund TCT

Published May 18, 2023 11:54 am
The Department of Budget and Management (DBM) released funds for the targeted cash transfer (TCT) program that will benefit over 7.5 million Filipinos. Budget Secretary Amenah F. Pangandaman said the DBM approved last May 16 the release of Special Allotment Release Orders amounting to P7.68 billion to fund the Department of Social Welfare and Development’s (DSWD) TCT program. “We will not abandon our countrymen in need. In adherence to the directive of President Ferdinand R. Marcos Jr., 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 2022, the 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, Pangandaman said. The program provides a P500-grant per month to beneficiaries, inclusive of administrative cost and bank charges. “We are grateful to our beloved President for the swift approval of our recommendations to accommodate the special budget request of DSWD for the implementation of the TCT program,” Pangandaman said. “This just shows that the President's priority is to take care of our countrymen who are in need,” she added.
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