Philippines hopes new infrastructure fund will stop the rot
The Philippines Infrastructure Development Fund has ambitious plans to pay for improvements to the country’s ramshackle roads, railways and water networks.
Speaking in Manila at FinanceAsia’s Infrastructure Philippines Conference 2010 earlier this month, Francisco Del Rosario, chief executive of the Development Bank of the Philippines (DBP), discussed plans for the country’s new infrastructure development fund.
The fund is being seeded with a $280 million (Ps12.5 billion) contribution from the government budget. That will be supplemented by $4.5 billion in 10- to 15-year bond funding from the DBP, Government Service Insurance Scheme, Lan…
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