[ad_1]
AFP GOVERNMENT seeks to raise about 40 billion P40 through retail bonds sold in installments to help finance the rehabilitation of the city of Marawi in the next five years, the Department Finance Minister, Carlos G. Dominguez III, said that the rehabilitation of the city of Marawi, which was almost leveled by five months of fighting last year between government forces and The state-sponsored militants would cost about 62 billion pesos, of which 10 billion dollars already allocated in this year's national budget
P10 BILLION D & # 39; YEAR
"It's been more than five years, it's not immediate … it's over Mr. Dominguez said
that the sale of bonds" depends on the market at that time, about P10 billion a year, p
Retail bonds were the instrument chosen "so that people really feel that they are participating in the reconstruction of Marawi City," said the chief financial officer. ] "We will definitively issue it in installments because we should not be borrowing more than we need for this year, we have already budgeted $ 10 billion, so we will look for more details on the amount actually needed and on what dates, "Dominguez added.
Government funding is separate from the public-private partnership planned for the most affected area of the city
. Dominguez said the balance of 12 billion pesos would come in the form of subsidies.
"Now that we have a difficult number, we will now go into detail about where the money comes from, and some of the money will come from subsidies," he said. – Elijah Joseph C. Tubayan
Source link
