DBM ready to increase calamity fund

ABS-CBN News

Posted at Aug 13 2012 04:03 PM | Updated as of Aug 14 2012 02:26 AM

MANILA, Philippines - Budget Secretary Florencio Abad on Monday said the government is ready to release another P10 billion for the disaster response and rehabilitation fund this year.

Abad said the government has savings of around P10.9 billion, which can be added to the calamity fund "if needed."

He said there is an ongoing assessment on the damages caused by massive flooding in Metro Manila and nearby provinces.

"Depending on their recommendation, we will immediately act on it. If they say they need P10 billion, we have it in our savings," he said.

The government's calamity fund has a balance of P5.950 billion, as of last year. He said the fund can be immediately released for disaster response and rehabilitation efforts.

He also said that DBM has already released P2.989 billion in QRFs to the responsible departments early this year.