Source: Balita

The Philippine government is now in the process of establishing an infrastructure fund to ensure financing for its 10 major infrastructure projects.

Finance Secretary Margarito Teves, in a briefing, said the need to have an infrastructure fund was raised by foreign investors during the Philippine economic managers' roadshow in Hong Kong and Japan last May.

Infrastructure funds have been established by investors in Japan. One of these is worth $ 500 million while the other is worth $ 300 million, he said.

Teves said a similar facility has been established in the country by a foreign-based investor who has a Filipino partner based in the country. This fund amounts to about P500 million.

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Posted by pichu at June 5, 2007 1:51 PM