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- Philippines May Raise $4.6 Billion to Help Fund Roads, Rails
- March 13, 2011, 4:57 AM EDT
- By Clarissa Batino
March 13 (Bloomberg) -- The Philippines plans to raise as much as 200 billion pesos ($4.6 billion) from state-run financial institutions to help fund roads, railways and ports, Economic Planning Secretary Cayetano Paderanga said.
“We want to tap the liquidity in the domestic market and avoid currency risks,” Paderanga said in an interview late yesterday in Cagragay Island in Luzon, where he spoke before a group of Philippine fund managers. The Asian Development Bank is advising the government on creation of the fund, he said.
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