The Department of Finance (DOF) and government financial institutions (GFIs) said they swiftly implemented measures to help Filipinos affected by Typhoon Carina and expedite the recovery process.
“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,” Finance Secretary Ralph Recto said.
The DOF announced that it was ready to tap $500 million of standby credit line that would allow the government to rapidly deliver critical services like healthcare, food and shelter to those affected by the typhoon and fund post-disaster emergency response, recoveryand reconstruction efforts.
As part of the country’s Disaster Risk Finance strategy, the Bureau of the Treasury (BTr) will file a claim under the National Indemnity Insurance Program (NIIP) for the damages sustained by 45 public schools across eight regions worth at least P308.5 million.
Once a payout is confirmed, the Department of Education (DepEd) will be able to use the funds for the repair and reconstruction of the said schools.
The Bureau of Internal Revenue (BIR) extended the deadline for value-added tax (VAT) and percentage tax payments as well as submission of other reportorial requirements to support taxpayers severely affected by the typhoon. Taxpayers in selected regional district offices (RDOs) now have until July 31, 2024 to complete these obligations.
Meanwhile, the Bureau of Customs (BOC) is in the process of assessing its inventory of seized goods, food, and agricultural products that are safe for donation to typhoon victims.
The Social Security System (SSS) and the Government Service Insurance System (GSIS) are extending financial assistance towards typhoon-stricken Filipinos through their calamity and emergency loans.
The SSS is providing calamity loan assistance to its qualified members that have been affected by the typhoon in the National Capital Region (NCR), as well as other areas that may soon be declared under state of calamity.
SSS members who reside in a declared calamity area can borrow a loan equivalent to their one month salary credit or up to a maximum amount of P20,000.
Members who wish to avail of the assistance can apply online through the SSS website.
Once the loans have been approved, members can expect the loan proceeds to be credited to their registered Unified Multi-Purpose Identification (UMID)-ATM Card or with a Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating bank.
The GSIS will also begin offering their Emergency Loan (EML) to its members from July 26, 2024 to October 28, 2024 to aid victims of Typhoon Carina.
The GSIS allocated P18.5 billion, which would benefit around 864,089 members and pensioners in areas under state of calamity. With a maximum loan amount of P20,000, members can apply online through the GSIS Touch mobile app or through GSIS Wireless Automated Processing System (GWAPS) kiosks.
