OP awards P50 million total incentives to 2024 Olympians
President Ferdinand R. Marcos conferred the Presidential Medal of Merit to the first-ever Olympic double gold medalist Carlos Edriel Yulo and a cash incentive worth P20 million from the Office President at the Ceremonial Hall of Malacañan Palace.
YUMMIE DINGDING / PPA POOL
The Office of the President (OP) has provided at least P50 million in cash incentives to Filipino athletes competing in the 2024 Olympics, according to Malacañang on Wednesday.
The Palace said that the President has doubled the financial incentives for double Olympic gold medalist Carlos Yulo, and bronze medalists Aira Villegas and Nesthy Petecio after their triumph in the 2024 Paris Olympics.
Yulo received P20 million in cash from Marcos beyond the law. He awarded the double-gold gymnast a Presidential Medal of Merit, while Villegas and Petecio received another P2 million from Marcos.
Republic Act 10699, the National Athletes and Coaches Benefits and Incentives Act, gives Olympic gold medalists P10 million, silver, P5 million, and bronze, P2 million.
"It's on top of what is legally mandated,'' Malacañang said. ''It's the President’s recognition of their hard work and dedication that brought so much joy and pride to the entire nation."