A P27.1-billion package was rolled out by the government to help frontliners fight the coronavirus disease 2019 (Covid-19) and provide relief to people and sectors affected by the virus-induced slowdown in economic activity. In a statement on Monday night, the Department of Finance (DoF) said the fiscal support would include:*Mobilization of an additional P3.1 billion to contribute directly to efforts to stop the spread of the virus, including the acquisition of test kits;*P2.0 billion representing the initial budget set aside by the Department of Labor and Employment (DoLE) for social protection programs for vulnerable workers, to be used for wage subsidy/financial support to Covid-19 affected establishments and workers;*Mobilization of an existing P1.2 billion in the Social Security System (SSS) to cover unemployment benefits for dislocated workers;*Technical Education and Skills Development Authority’s (Tesda) Scholarship Programs amounting to P3 billion that will support affected and temporarily displaced workers through upskilling and reskilling. It is also offering free courses for all who would like to acquire new skills in the convenience of their own homes, mobile phones and computers through the Tesda Online Program;*Various programs and projects of the Department of Tourism (DoT) amounting to P14 billion from the Tourism Infrastructure and Enterprise Zone Authority to support the tourism industry;*P2.8 billion for the Survival and Recovery Aid Program of the Department of Agriculture-Agricultural Credit Policy Council (ACPC), which provides loans of up to P25,000 each at zero interest for smallholder farmers and fisherfolk affected by calamity and disasters. This initiative includes a one-year moratorium without interest on payments of outstanding loan obligations of small farmers and fisherfolk borrowers under the ACPC Credit Program amounting to P2.03 billion; and*P1 billion allotted by the Department of Trade and Industry (DTI) for its Pondo sa Pagbabago at Pag-Asenso Microfinancing special loan package of the Small Business Corp. for affected micro entrepreneurs/micro, small and medium enterprises. Also included is the DTI’s ongoing assistance in finding new supply sources and non-traditional markets for industries affected by supply chain disruptions and the conduct of trade and investment missions to support the continued operation of industry.

Source: Manila Times March 17, 2020 09:11 UTC