Finance Chief Recto Assures Ample Funds for Typhoon Kristine Relief and Recovery

Finance Secretary Ralph Recto confirmed that the government has sufficient funds to support relief and rehabilitation for areas impacted by Severe Tropical Storm Kristine. In a recent statement, Recto emphasized that funds from the National Disaster Risk Reduction and Management Fund (NDRRMF) and Quick Response Fund (QRF), as allocated under the 2024 General Appropriations Act, are available for immediate disaster response.

Recto noted that these resources would address immediate needs like food, shelter, first aid, and medicines, as well as long-term recovery for damaged infrastructure. Additional financial resources include unprogrammed funds, a $500 million standby credit line, and post-disaster financing from the World Bank and Japan.

For severely impacted public facilities, the Bureau of the Treasury is prepared to file claims through the National Indemnity Insurance Program (NIIP), while the Department of Finance (DOF) continues to enhance LGUs’ disaster readiness through the People’s Survival Fund (PSF) and expanded microinsurance coverage. The Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) are also extending support by adjusting tax deadlines and inventorying goods for donation.

Additionally, financial aid is available to affected members through the Social Security System (SSS), Government Service Insurance System (GSIS), and Land Bank of the Philippines, which is offering quick salary loans, disaster recovery funds for cooperatives, and working capital for MSMEs.

According to the Office of Civil Defense, Typhoon Kristine has affected 4.47 million people across 83 cities and municipalities, with a death toll of 81.