What is the ‘Ria’ Money Transfer?

A bill to transfer $4.8 billion in federal stimulus money to the Philippines, which has been plagued by widespread violence and corruption, was introduced in Congress on Tuesday by Rep. Risa Hontiveros.

The money, which will be used to pay for the purchase of goods and services, would also be used for the creation of new job opportunities and economic growth, Hontiversos said.

The bill also provides for a 10 percent tax credit for Philippine citizens and an additional 10 percent for U.S. citizens.

A U.N. report earlier this year found that more than $1.8 trillion in stimulus money has been wasted and was wasted on projects that would have created jobs and improved the lives of Filipinos.

Hontivenos said that as the country is dealing with the economic crisis, the money will be a major source of economic growth.

“We need a way to make sure that our people have a better future,” she said.

“Our future is going to be better than it was before.”

A spokesman for Hontvenos said the congresswoman wants to make a statement to the world that Filipinos deserve a better life.

“The bill is about saving lives, saving lives of people and making sure that the Philippines is a country where people have dignity,” said spokesman Jonathan Villar.

“This is an important bill that will not only help the people of the Philippines and their families, but it is also an important tool for the Philippines to fight terrorism.”

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