Noy to sign bill for HR victims on Feb. 25

MANILA, Philippines - President Aquino will likely sign a landmark bill providing compensation to thousands of human rights victims during the Marcos dictatorship on Feb. 25, the 27th anniversary of the first EDSA people power revolution.

Secretary Manuel Mamba, Presidential Legislative Liaison Office chief, said signing the bill on the occasion would make it symbolic.

Under the Human Rights Victims Reparation and Recognition Act of 2013, a P10-billion fund, plus accrued interest, has been set aside and appropriated to finance the victims’ claims.

The amount will be sourced mainly from funds transferred to the government by the Swiss Federal Supreme Court and held in escrow.

The deposits, including interest, currently amount to $625 million. The funds were recovered from the Swiss bank accounts of the Marcoses.

“That is the tentative proposal, nothing final yet,” Mamba said.

Aquino has declared Feb. 25 as EDSA People Power Revolution Anniversary (PPRA) Day, a special holiday for all schools under Presidential Proclamation No. 459.

“The EDSA People Power Revolution, which restored and ushered political, social and economic reforms in the country, serves as an inspiration to Filipinos everywhere, as a nation and as a people,” the President said.

Switzerland froze the Marcos assets shortly after the 1986 people power revolt and turned over the deposits to the Philippine government in 2004, following a final ruling by Philippine courts that the money was ill gotten.

The Swiss people see the case as a model for compensating victims of oppressive regimes using money the despots looted from their own people.