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PIA Press Release
2010/11/19

GFIs commit P200 billion to PPP fund

Manila (19 November) -- Government financial institutions (GFIs) have committed P200 billion to jumpstart the public-private partnership (PPP) initiatives of the Aquino administration said Development Bank of the Philippines (DBP) president and chief executive officer Francisco Del Rosario, during the opening of the ongoing PPP conference on infrastructure projects.

Del Rosario added that the money to be pooled under the Philippine Infrastructure Development Fund ? now being established by the Department of Finance ? will be made available within the timeframe envisioned by the national government for rolling out the infrastructure projects under the initiative.

The GFIs that will contribute to the fund include DBP, Government Service Insurance System (GSIS), Land Bank of the Philippines (LBP) and the Social Security System (SSS).

President Benigno Aquino recently disclosed that the top infrastructure projects of his administration will also be inaugurated in the said PPP conference. (Jayson Leguiab/PIA-MMIO) [top]

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