The signing into law of Bayanihan 2 will ensure that the government’s response to the health crisis that our country is going through will continue without interruption. This will provide much needed support to our health sector, which is at the frontline in this battle against COVID-19. It will assist sectors that have fallen on their knees due to the lack of economic activity.
Assistance will also be provided to the sectors most affected by the community quarantines such as tourism and the micro, small and medium enterprises (MSME), which experienced zero economic activity for over four months. They will have access to low-interest loans to help them continue their operations and financial aid for the workers who lost their jobs.
The law will bridge the gap between now and January 2021 when the new general appropriations act will be enacted.
This is a product of the strong cooperation between the Senate and the House of Representatives, incorporating the valuable inputs of the various stakeholders and affected sectors, both understanding the need to provide help to those who badly need it at this time.
Congress will continue to closely monitor the implementation of the law through its oversight committee and now with the Commission on Audit also receiving the same reports of the executive branch, more sets of eyes will be available to ensure no funds are being wasted and the benefits spelled out in the law will go to their intended recipients without delay.