The World Bank and the Asian Development Bank (ADB) have offered to finance the Marcos administration's food stamp program that aims to support one million "food-poor" families from 2024 to 2027, the Department of Social Welfare and Development (DSWD) said Saturday. The "Walang Gutom (No Hunger) 2027" program will require an annual budget of P40 billion to provide the targeted beneficiaries P3,000 worth of food stamps per month. "But since we have discussions with development partners such as ADB, there are others, like the World Bank. Punay said the DSWD will pilot the program from July to December with a $3 million (P168 million) technical assistance from the ADB. Punay said the credits are not convertible to cash and cannot be withdrawn from an automated teller machine, like the cash grants under the "Pantawid Pamilyang Pilipino Program," a conditional cash transfer program.

Source: Manila Times June 04, 2023 13:04 UTC