Precious Grace Ann R.

Loja IA1 March 13, 2020

The Cost of Living (Part III- COVID19 Outbreak)

Are the sins that are still being committed by the people? I don’t know if it’s
natural phenomenon or a punishment to our wrongdoings. But sometime later around
the last day of the year which was December 31, 2019. There was a man confined to a
hospital in Wuhan, China. He suffered similar symptoms just like the flu that lead to
Pneumonia and later on his death. The shocking thing is that it didn’t stop there.
Because as the man passes through alleys, streets, buildings and later in the hospital.
He was already transmitting a new type of corona virus affecting hundreds then
thousands then later on population of the world, including our country, Philippines.

The sad truth about is, many are suffering. Many stores, shops, clinics and such
were forced to close. Many grocery shops when this thing hits the fan. Where out of
stock of necessary products. There was this on time where I go to buy an alcohol for
sanitary purposes but was sold out due to the demand.

Luzon-wide enhanced community quarantine (ECQ) extended until April 30 and

with no definite end in sight yet for the COVID-19 global pandemic, many Filipinos are
counting on the government for financial help. This is where its Social Amelioration
Program (SAP), SSS Loans, GSIS Loans, and other loan comes in for financial aid to
our fellow Filipino people. According to Republc Act 11469 or the “Bayanihan to heal as
one act”, direct all banks, quasi-banks, financing companies, lending companies, and
other financial institutions, public and private, including the Government Service
Insurance System, Social Security System and Pag-ibig Fund, to implement a minimum
of a thirty (30)-day grace period for the payment of all loans, including but not limited to
salary, personal, housing, and motor vehicle loans, as well as credit card payments,
falling due within the period of the enhanced Community Quarantine without incurring
interests, penalties, fees or other charges, persons with multiple loans shall likewise be
given the minimum thirty (30)-day grace period for every loan.

In connection to this, I heard a news that said “The World Bank is committed to
supporting efforts to strengthen the Philippines’ capacity to prepare for and respond to
natural disasters as well as health and economic shocks like COVID-19,” said Achim
Fock, World Bank Acting Country Director for Brunei, Malaysia, Philippines and
Thailand.

Philippines President Rodrigo Duterte has declared a public health emergency

and a state of calamity, mandating full cooperation among all government agencies and
local governments to address the COVID-19 threat. The World Bank has expressed its
solidarity with the people of the Philippines and is working closely with the authorities to
support action to address the unfolding COVID-19 emergency through financial support
and just-in time technical assistance.

The World Bank has approved a $500 million (about ₱25 billion) loan to support
the Philippines' efforts in the fight against COVID-19.