(They were not able to predict that the inflation would be this high which is why they have to revisit the
safety net of TRAIN.)
Chairperson BISP said that over a very short span of 8 years, BISP has emerged as a leading social
safety net (SSN) program.
"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."
The social
safety net targets categories that suffer from poverty in all its forms.
It is pertinent to mention here that the BISP was established in July 2008 as a national flagship social
safety net programme of the government.
One of the fundamental purposes of our banking
safety net is to prevent systemic risk from becoming an observable reality.
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, said Yemstov, who led the team that prepared the WB report, said.
Oleksiy Sluchynsky, World Bank senior economist and project team leader, acknowledged: "The governments vision for social protection and
safety net is clearly articulated in the Afghanistan National Development Strategy (ANDS).
Finally, while strong and improved
safety nets benefited from adequate external funding from DSH dollars and state or local charity care pools, new funding sources also boosted
safety net strength.
"Iyong nakakatakot lang dito, kung gagawin natin na test run iyong nangyari sa TRAIN Law, na napakabagal noong pag-implement ng mga
safety nets para sa mga mahihirap, talagang maghihirap pang lalo iyong mga magsasaka," she said.