September 26, 2024 | 12:00am
MANILA, Philippines — The Department of Budget and Management has released P1 billion to compensate victims of the Marawi siege.
Budget Secretary Amenah Pangandaman approved the special allotment release order for the funding to indemnify people who lost their homes and property to the armed conflict that occurred more than seven years ago.
The funds will be distributed to 574 beneficiaries and recipients who filed claims for structural damage and death.
Based on the provisions of the calamity fund, lawful owners of residential, cultural and commercial structures as well as other properties in areas affected, destroyed or damaged by the conflict will receive compensation.
The government will also indemnify owners of private properties demolished pursuant to the implementation of the Marawi Recovery, Rehabilitation and Reconstruction Program.
The Marawi Compensation Board (MCB), which manages the fund distribution, will facilitate tax-free payment or reparations to qualified people.
The MCB determines the monetary compensation and award based on fair market value or replacement cost of the affected property.
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