Senator Loren Legarda ensured that more funds have been allocated for the quick recovery and rehabilitation of war-torn Marawi City under the proposed 2018 National Budget.
Legarda, Chair of the Senate Committee on Finance, said that aside from the budget under the National Disaster Risk Reduction and Management (NDRRM) Fund for Marawi’s rehabilitation, the Senate also introduced additional funding to ensure quick recovery of the whole community.
“In light of Marawi City’s current situation, we are making available Ten Billion Pesos of the NDRRM Fund for 2018 for the city’s quick recovery, reconstruction, and rehabilitation. This amount is on top of the Five Billion Pesos given this year from the Contingent Fund and funds of different government agencies,” the veteran legislator said.
“We are also making available a 500-Million-Peso subsidy for a loan facility for Marawi residents, under the auspices of the Land Bank of the Philippines (LBP), to enable them to reconstruct their damaged houses,” the seasoned lawmaker added.
The lady senator explained that, under a special provision in the 2018 General Appropriations Bill (GAB), it is specified that such loans will be free of interest, but the loanable amount shall not exceed Two Million Pesos per household and the LBP may charge the borrower the administrative cost incurred in processing the loan.
She also said that, as the Senate restored the One Billion Pesos budget of the Department of Trade and Industry’s (DTI) Shared Service Facilities (SSF) Project, 50 Million Pesos of the fund will be allocated for micro, small and medium enterprises (MSMEs) affected by the war in Marawi.
Moreover, Legarda also provided an additional Five Million Pesos for the cultural mapping that will be done by the Mindanao State University (MSU) to preserve the intangible and tangible heritage left amid the war in the city.
“It is saddening that the war in Marawi has affected Bangsamoro heritage, with precious artifacts and heirlooms in affected homes and heritage structures destroyed. We need immediate intervention so that the next generations would not be deprived of knowledge about this rich heritage. The process itself and the output of the cultural mapping can help in the psychological healing of the affected populace and in strengthening our cultural bonds with our fellow Muslim Filipinos,” she said.
“These budgets go with our fervent prayer that we may immediately see hope, dignity, and peace restored in Marawi City and other affected areas,” Legarda concluded.