“[We] have to be specific. Once we get to that point, then we can talk about the amounts that are going to be invested, both by the fund and, of course, by our private sector partners,” the President said.
Both Mr. Marcos and his economic managers have repeatedly said that the Maharlika fund was one way of funding key infrastructure projects without incurring too much foreign debt with onerous conditionals. In his State of the Nation Address before leaving for Kuala Lumpur, the President mentioned that some of his 194 high-priority infrastructure could be funded by the Maharlika fund, but left the details to his economic team and the Maharlika fund managers.
The Fund Managers Association of the Philippines alone has at least 50 financial institutions, including all the country’s biggest banks, each managed by veteran professionals with local and international experience. INQYour subscription has been successful.
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