DBM Allots ₱5.2 Billion For DSWD’s Targeted Cash Transfer Program

The Department of Budget and Management (DBM) released a total of ₱5.2 Billion to fund the one-month requirement of the Targeted Cash Transfer (TCT) program of the Department of Social Welfare and Development.

DBM said the Special Allotment Release Order was approved last November 17 and charged under the Unprogrammed Appropriation category.

The funds will cover the third trance of the TCT program and are expected to reach an estimated 9.8 million beneficiaries.

“The DBM fully supports the projects and programs that provide social assistance to our fellow kababayans (Filipinos),” Budget Secretary Amenah Pangandaman said.

The TCT program distributes unconditional cash transfers of ₱500 to the hardest hit households per month for 6 months to mitigate the impact of rising fuel prices and other commodities, the DBM said.

Earlier, the DBM released ₱10.33 billion to DSWD for 2 months of cash transfers for 10 million household beneficiaries.

The National Economic and Development Authority also stressed the timely release of cash transfers is crucial in helping mitigate rising inflation.

Source: ABS-CBN