SEN. Juan Edgardo Angara yesterday urged implementing agencies to fast-track the release of unspent funds provided under the Bayanihan to Recover as One law or the Bayanihan 2, which is set to expire on June 30 this year.
Angara, who is the chairman of the Senate finance committee, said there is a need for the agencies should act with urgency in utilizing the funds because there is very little time left for them to spend their allocations.
“There are still a few billions left under the Bayanihan 2 which were not yet used. The extension of Bayanihan 2 funds is until June 30 only. That is why they should act with urgency in disbursing these funds,” Angara said.
He said it would be a disservice to the public if the funds were not spent to ease the effects of the COVID-19 pandemic since lawmakers acted swiftly on the measure last year when Malacañang endorsed it to Congress.
“We owe it to our kababayans who are in dire need of assistance to act just as swiftly, especially now with just a few days left in the Bayanihan 2 extension law,” he said.
Citing data from the Department of Budget and Management, Angara said as of May 18, P60.9 billion of the Bayanihan 2’s P165.5 billion remain unspent.
He said six agencies have an obligation rate of below 50 percent, and two with below 10 percent.
“We strongly urge the implementing agencies to work faster in completing their respective processes so that the intended beneficiaries of the programs we identified under the Bayanihan 2 will get the help that they badly need at this time,” Angara said.
Under the Bayanihan 2, P40.5 billion was provided for health initiatives to fund, among others, the procurement of COVID-19 vaccines, payment of the Special Risk Allowance and compensation for health workers who contracted the virus, and the hiring of contact tracers.
Another P55 billion was provided to the Land Bank of the Philippines, Development Bank of the Philippines, Small Business Corporation and the Philippine Guarantee Corporation as capital infusion, primarily for the provision of low-interest loans to micro small and medium enterprises.
Another P9.5 billion was provided to assist the transport sector, mostly for cash subsidies and service contracting of displaced drivers, while P8.9 billion was allocated to the Department of Education to assist in the implementation of digital learning.
The tourism sector was provided another P8.9 billion, while P24 billion was allocated as stimulus package for the agriculture sector.
Angara said the delays in the utilization of the Bayanihan 2 funds will be raised once Congress deliberates on the proposed 2022 national budget after next month’s State of the Nation Address.
