Bloomberg News

Philippines to Set Up 22.5 Billion Pesos Infrastructure Fund

September 29, 2011

Sept. 29 (Bloomberg) -- The Philippines will set up a 22.5 billion-peso “counterpart” funding for infrastructure projects, Budget Secretary Butch Abad said in Manila today.

Abad said the additional allocation will be “on top of” funds for 10 projects the government earlier announced.

To contact the reporter on this story: Joel Guinto at jguinto1@bloomberg.net

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net


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