Philippine government’s conditional cash transfer program (CCT) known as Pantawid Pamilyang Pilipino program (4Ps) was tagged as “one of the largest and best-targeted social safety net programs in the world” by lead economist and team leader for social protection at the World Bank, Ruslan Yemtsov. Yemtsov led the preparation of the report, The State of Social Safety Nets 2015.
“Poverty in the Philippines is a dynamic phenomenon and many households move in and out of poverty during the year due to factors like calamities, droughts, or the advent of the lean seasons,” Yemtsov said as quoted by World Bank published in one of its article published September 23.
“The poor and vulnerable in the Philippines benefit from what is today one of the largest and best-targeted social safety net programs in the world,” he added.
According World Bank, social safety net programs include cash and in-kind transfers targeted to poor and vulnerable households, with the goal of protecting families from the impact of economic shocks, natural disasters, and other crises; ensuring that children grow up healthy, well-fed, and can stay in school and learn; empowering women and girls; and creating jobs.
“The CCT grants, on average, only account for about 11 percent of the income of the poorest recipient households,” said World Bank Country Director for Philippines Motoo Konishi. “Yet, for poor and vulnerable households the grants are very important. Two rounds of rigorous impact evaluation show that they use the money to buy food, school uniforms and school supplies for their children.”