President Gloria Macapagal-Arroyo welcomed today the proposal of the business sector to put up a P100-billion public-private sector fund to bankroll infrastructure projects under the government’s Comprehensive Integrated Investment Program (CIIP) in 2008-2010.
At the closing meeting of the 34th
Philippine Business Conference (PBC) and Expo on Wednesday at the Manila Hotel, the President said the proposal of Ambassador Donald Dee, president of the Philippine Chamber of Commerce and Industry (PCCI), to establish a P100-billion funding facility would promote enhanced private sector participation in government infrastructure projects under the P2-trillion CIIP.
The CIIP, the President said, is an expanded infrastructure portion of the Medium-Term Public Investment Program (MTPIP) which contains a catalogue of projects that can be funded by both public and private sectors.
“Under the 2008-2010 CIIP, the transport sector has the highest investment share at 38 percent or P755 billion out of the P2 trillion total investment requirement that we would want to put up in case of a recession in the US economy,†the President said. - PNA
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