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In April 2020, Government approved a Covid-19 Economic Response Plan, which was a short-term plan aimed at addressing risks facing businesses, workers and households. Some interventions in the plan like the food hampers were implemented up to the end of June 2020 whilst others like the loan guarantee continue to be offered. The key strategic objectives of the Plan, which were supported by Covid-19 Pandemic Relief Fund Order were support to workers; stabilization of businesses; ensuring availability of strategic reserves; and promoting opportunities for economic diversification.

Beyond the Covid-19 Response Plan, Government prepared a medium to long term Economic Recovery and Transformation Plan (ERTP) for mitigating the effects of the pandemic. The ERTP, which was approved by Parliament as an addendum to the Mid-Term Review of NDP 11, resulted in Government appropriating additional resources through the Supplementary Estimates in the form of Industry Support Facility to the tune of P1.3 billion.

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