Finance Secretary Benjamin E. Diokno said the government will consider tapping the Group of Seven’s (G7) Partnership for Global Infrastructure and Investment (PGII) program to support the Philippines’ building efforts. READ:
To continue the momentum of the previous administration’s Build, Build, Build program, “we are considering all possible sources of funding” to meet a target for infrastructure spending of 5-6% of gross domestic product , Mr. Diokno said after the Development Budget Coordination Committee’s meeting on Friday.
“The way we borrow is that we try to be opportunistic. There are many sources of borrowing in terms of foreign debt, so we will choose the least cost as far as we’re concerned and the one that will oer the best terms. For example, it’s 40 years to pay, we would tend to borrow from those sources,” he added.
“An example will be in Bohol. We have constructed the Bohol international airport… I think it will significantly improve the operations and management of that airport if the private sector runs it, and we might consider giving it to the private sector,” Mr. Diokno added.
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