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Landbank disburses P46.31-B cash aid

State-owned Land Bank of the Philippines, the main distribution arm of the government’s financial aid program, has released about P46.31 billion worth of subsidies for those affected by the pandemic.

LandBank said as of July 1, 2020, bulk of the fund amounting to P46 billion benefitted 4.363 million households under the conditional cash transfer program.

The P191.38 million was released to 23,922 public utility vehicle drivers in the National Capital Region.

Part of this is a social amelioration program for drivers which is in line with the Republic Act 11469, or the Bayanihan to Heal as One Act, providing P5,000 to P8,000 subsidy depending on what regions they are located.

Beneficiaries that received aid from the program of the Department of Labor and Employment came in third, based on those disbursed by Landbank.

Specifically, 18,061 formal workers from the NCR benefited from the Covid-19 Adjustment Measures Program and they received a total of P90.3 million.

About 2,533 displaced overseas Filipino workers received a total of P25.33 million worth of aid under the Abot Kamay ang Pagtulong.

Finance Sec. Carlos Dominguez III suggested the use of technology in the disbursement of government aids to address graft and corruption and ensure the funds would be given directly to the intended beneficiaries.