QUEZON CITY -- The Department of Social Welfare and Development (DSWD) said that it will immediately facilitate the distribution of the cash assistance under the Targeted Cash Transfer (TCT) program after the Department of Budget and Management (DBM) has announced the release of more than Php 5 billion funds for the third batch of the program.
In a statement, the DBM mentioned that the approval of the Special Allotment Release Order (SARO) amounting to Php 5.2 billion seeks to cover around 9.8 million identified beneficiaries of the TCT program.
The DSWD said that the latest fund release is beneficial for and will significantly assist the TCT beneficiaries amid the continuing increase in the prices of basic commodities due to high inflation. The TCT Program grants cash transfers to the most affected households in the amount of P500 per month for 6 months.
It can be recalled that the first two batches of the program have rolled out in June and July respectively.
Meanwhile, the Department expresses its appreciation to the TCT Inter-Agency Committee, including the DBM, Department of Finance, and the National Economic Development Authority for prioritizing the budget allocation for the continuous implementation of the TCT program. (DSWD)