DBM okays P5-B Bangsamoro fund
The Department of Budget and Management approved the disbursement of a development fund worth P5 billion allocated to the Bangsamoro Autonomous Region in Muslim Mindanao.
In an announcement on Wednesday, Budget Secretary Amenah Pangandaman stated that the department has already authorized the issuance of the Special Allotment Release Order for BARMM’s Special Development Fund The release of funds aligns with Section 2, Article XIV of Republic Act 11054, which mandates the national government to provide an annual amount of P10 billion to the BARMM government for ten years. The purpose of this fund is to support the rebuilding, rehabilitation, and development of communities affected by conflict, as stated by the DBM.
“As I promised, and in accordance with the instructions of President Bongbong Marcos, DBM will continue to support BARMM to the best of our ability. We will ensure that we will help in its smooth transition process and strengthen its communities,” Pangandaman said.
“We hope that this fund will be used properly to meet the needs of the communities in BARMM. We hope that BARMM takes advantage of this funding by fully utilizing it to help those in need, and to improve areas that need further development,” she added. The Bureau of Treasury will directly disburse the allocated funds to the BARMM through a designated government servicing bank, following the cash programming guidelines set by the national government.
Annual block grant
Under the leadership of President Ferdinand R. Marcos Jr., the administration has allocated P64.76 billion as the Annual Block Grant for BARMM.
Additionally, P5 billion has been set aside for the Special Development Fund aimed at supporting the reconstruction, recovery, and progress of communities affected by conflict.
Furthermore, the region will receive P4.59 billion as its share of taxes, fees, and charges collected within the area.
The outbreak in BARMM occurred in Marawi City, the capital of Lanao del Sur province, which is one of the six provinces in the region. This conflict lasted for five months, from 23 May to 23 October 2017.
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