Bono 700: everything you need to know about the new subsidy announced by President Pedro Castillo

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As part of the measures announced by the president Pedro Castillo In its first message to the nation, the delivery of the Bono 700 has drawn the attention of those who could benefit from the decision of the new government.

But, What will the Bonus 700 consist of? As indicated by the president himself, This bonus was born out of the need to cover the negative effect that COVID-19 has had on the economy of the lower-income population, which has been diminished not only by the pandemic but also by the increase in prices of basic necessities.

We will carry out an immediate transfer of financial support of S / 700 to each vulnerable family given that the pandemic has generated many expenses in education and health for people, to this has been added a rise in prices that affects family nutrition “, has said.

Like the economic subsidies provided by the previous authorities, the Bono 700 will be a direct transfer that the government will assign to households in vulnerable situations in all regions and provinces of the country.

Although details of how this new economic protection will be distributed and targeted have not yet been given, it is most likely to select the beneficiary households of the Bono 700, your situation of poverty or extreme poverty is taken into account, according to the Household Targeting System (Sisfoh).

For the above grants, for example, It was considered that the beneficiary households are affiliated to the Juntos program, that have a member as a user of the programs Pension 65 o Contigo, that no member of the household is registered in the public and / or private payroll (with the exception of pensioners and practitioners), or that no member of the household has an income greater than S / 3,000.

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In principle, as happened with the Universal Family Bonus, 600 Bonus, Independent Bonus and Rural Bonus, the government must approve the budget with the resources it will allocate to cover this subsidy.

But, because in the previous benefits their transfer, distribution and payment depended on the Ministry of Economy and Finance (MEF) and from Ministry of Development and Inclusion (Midis), and that to date President Pedro Castillo has not yet appointed the holders of both portfolios, it is not yet possible to determine on what date the payment of this new subsidy will begin.

Moreover, until the first week of July, of the 4.7 million households benefiting from the 600 Bond, around 400,000 households at extreme risk level due to the pandemic (9% of the total) had not yet made the collection of this allowance. And, just for the case of this subsidy, the government of Francisco Sagasti allocated more than S / 2.9 billion for its payment.

Considering that the Bono 600 was implemented in 17 days with the support of different sectors, the same payment methods enabled to make your payment effective could be repeated.

Thus, the Bono700 will be able to reach its beneficiaries through the payment into account (if they have an account at the Banco de la Nación or some other financial institution), from the payment carts (in remote communities that do not have banks), from the digital wallet, from the Banco de la Nación cell phone bank or, directly, at a bank agency.

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