Duterte signs Bayanihan Act 2
By Prince Golez
President Duterte has signed the Bayanihan to Recover as One Act (Bayanihan 2) that provides for P165 billion in funding for the government coronavirus (Covid-19) response.
The measure consists of P140 billion in regular appropriations and P25.5 billion in standby funding.
In a statement Friday evening, Malacañang thanked the leaders of both houses of Congress “for their display of statesmanship” by quickly passing the second Bayanihan measure.
“We consider the Bayanihan II crucial in our efforts to gradually re-open the economy, support businesses and revitalize growth as we make our country resilient to Covid-19 by strengthening our health sector, particularly our healthcare capacity and pandemic response,” according to spokesman Harry Roque.
The biggest share of the budget under the Bayanihan law will go to loans for sectors severely hit by the Covid-19 pandemic, particularly micro, small and medium enterprises.
It also includes significant allocations to assist farmers and the Plant, Plant, Plant initiative of the Department of Agriculture, as well as critically affected businesses in the transportation sector.