3) Funding from the public sector will come from earned dividends and the sale of nonearning assets and will not include the assets of Development Bank of the Philippines , Land Bank of the Philippines, Government Service Insurance System and Social Security SystemSounds good.
I worked closely with World Bank, ADB and IFC and, in the process, was able to secure an approval from these institutions to provide a grant to pay for the initial legal, financial and management studies costs for the creation of the PSIDF. It looked good and was on the way to a successful implementation. However, as fate would have it, the funding assistance was utilized instead for local government development projects, which were thereafter approved by the funders themselves.
In an increasingly competitive world, good ideas will always give an edge—an idea that opens new frontiers, new entries of foreign and local direct investments or an insight that makes sense to minimize a nation’s problems. The MIF, with its recent changes, is one such idea that has become interesting and definitely deserves a second look by all of us. INQof the author and not the official stand of the Management Association of the Philippines or MAP. The author is former president of MAP. He is chair of Institute of Solidarity in Asia or ISA. He was former chair, president and CEO of DBP, and former independent director of Metrobank.Your subscription could not be saved. Please try again.
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