Development Bank of the Philippines (DBP) president and chief executive officer Emmanuel Herbosa on Thursday expressed support for the passage of the controversial Maharlika Investment Fund (MIF), citing 'better rates of return.'
Development Bank of the Philippines president and chief executive officer Emmanuel Herbosa on Thursday expressed support for the passage of the controversial Maharlika Investment Fund , citing "better rates of return."
"As head of a government bank, the SWF is closely aligned with our operating principle of bolstering economic additionality through timely and meaningful support of critical industries and sectors," he added.will come from LandBank with P50 billion, the DBP with P25 billion, and dividends and profits of the Bangko Sentral ng Pilipinas .
The MIF was initially aimed to have a capital of P275 billion, with P175 billion coming from the Government Service Insurance System and the Social Security System , but lawmakers dropped these funding sources to douse public opposition.
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