The Department of Budget and Management (DBM) of the Philippines announced on November 7, 2024, that it possesses adequate financial resources to support recovery efforts in areas affected by recent typhoons.
This assurance follows comments from President Ferdinand "Bongbong" Marcos Jr. regarding the depletion of the Quick Response Funds (QRF). DBM Secretary Amenah Pangandaman clarified that the QRF is designated for preparatory activities, relief, and rehabilitation during disasters.
Pangandaman stated that as of October 24, various government agencies had a total of P30 billion available, although approximately P15 billion had already been obligated. With the current month, agencies such as the Department of Social Welfare and Development (DSWD) and the Department of Public Works and Highways (DPWH) are seeking replenishment for their QRFs.
Under the 2024 General Appropriations Act, the National Disaster Risk Reduction and Management Fund (NDRRMF) can be utilized to replenish QRFs once agencies have utilized at least 50% of their allocated funds. Additionally, agencies may access other sources, including the Contingent Fund and Local Government Support Fund (LGSF), for further financial assistance.
Pangandaman indicated that the Contingent Fund still has approximately P7 billion available, which can be tapped first. Requests for replenishment have already been submitted by DSWD and DPWH.
Local government units requiring budget support can approach the DBM to access the LGSF, which has been expanded to include disaster response assistance. The LGSF can also finance projects related to disaster recovery and the acquisition of necessary equipment for response efforts.