Press Release
October 14, 2009


Senator Edgardo J. Angara today led the approval of the P12 Billion calamity fund approved by Congress.

"The approval of this measure has been much awaited. Even if, realistically, it will not be enough to cover all the damages inflicted by these killer typhoons, the P12 billion will serve as a vital lifeline to the 1.2 million Filipinos devastated by the typhoons," said Angara who chairs the Senate Committee on Finance.

"I am happy to report that this is a concerted show of support and solidarity to our people, shown by every single member of this chamber. We are grateful that despite the urgency, we did not forego the required course of action that will ensure transparency and accountability. We have put mechanisms in place to ensure that public money goes where it should be," said Angara.

He added, "The new amendments introduced by my colleagues are now cleared and approved by our counterpart in the House."

To ensure transparency agencies responsible for the disbursement and spending are required to submit a report and post in their respective websites how much money was allocated and where it was spent.

Moreover, a congressional oversight committee composed of members of the Senate and the House will be tasked to ensure accountability.

The 12-B will be sourced from the so-called unprogrammed portion of the national budget and proceeds from Malampaya share of the national government where the total amount is 14-B.

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