Salient provisions of the Bayanihan 2 measure

The Bayanihan 2 measure, as ratified by Senate, has a total budget of ₱165.5 billion. Of this total amount, ₱140 billion is regular appropriation and ₱25.5 billion in standby fund.

The following are the salient features of the regular ₱140 billion appropriation:

• ₱39.472 billion as capital infusion to government banks, broken down as follows: ₱10 billion for the Department of Trade and Industry’s Small Business Corporation (SBCorp)—₱4 billion of which will be devoted for low-interest loans to micro, small, and medium enterprises, cooperatives, hospitals, and overseas Filipino workers, and ₱6 billion for tourism;

• ₱18.4725 billion for the Land Bank of the Philippines (LBP);

• ₱6 billion for the Development Bank of the Philippines (DBP); and,

• ₱5 billion for the Philippine Guarantee Corporation.

• ₱24 billion as assistance to the Agricultural Sector and the Plant, Plant, Plant initiative under the Department of Agriculture;

• ₱9.5 billion in assistance to the Transportation industry;

• ₱4 billion for the tourism industry, and another ₱100 million for tourist guides training and subsidies;

• ₱3 billion for the development of smart campuses across the country;

• ₱1 billion for Technical Educational Skills Development Authority scholarships;

• ₱6 billion for Department of Social Welfare and Development’s assistance to individuals in crisis situations;

• ₱4 billion for the Department of Education’s implementation of digital education;

• ₱1.5 billion as assistance to local government units, with another ₱2 billion as subsidy for the payment of interest on loans secured by LGUs from government banks;

• ₱5 billion for the Department of the Interior and Local Government to hire more contact tracers;

• ₱2.5 million for the computerbased licensure of the Philippine Red Cross;

• ₱10 million for the research fund of the Health Technology Assessment Council, which was created under the Universal Health Care Law;

• ₱15 million for UP Diliman’s Computational Research Lab

For the ₱25 billion standby fund:

• ₱10 billion for COVID-19 testing and procurement of vaccines and medicines;

• ₱15.5 billion as additional capital infusion to government banks.

In addition, the Bayanihan 2 will continue the social amelioration program to provide ₱5,000 to ₱8,000 aid to low-income households.

Bayanihan 2 also grants a 60day extension for loan payment. It also requires public utilities to implement a minimum 30-day grace period for the payment of fees falling due within the Enhanced Community Quarantine (ECQ) or Modified ECQ without penalties.