The availability of funds under the Bayanihan to Recover As One Act, the country's second COVID-19 stimulus package, must be extended until the end of the year to fast-track the government's response to the pandemic, Sen. Francis Pangilinan said Monday.
Pangilinan filed Senate Bill 2218 which prolongs the availability of P165 billion until December 31, 2021. The law was previously extended until June 30.
"If we want to fast-track our efforts against COVID, we have to utilize all our available resources for healthcare, vaccination roll-out, testing and prevention,” he said.
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The senator is also proposing the submission of a monthly report on the “targets and actual accomplishments of government programs, strategies, plans and and efforts relative to the COVID-19 pandemic."
The Bayanihan 2 Law includes a P50-billion funding for government financial institutions allowing them to provide soft loans to affected sectors, and P13.5 billion for health-related response measures.