‘MIF to fill in gap when PHL as UMIC loses ODA’ | Jasper Y. Arcalas

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The proposed MIF will allow the Philippines to expand its financing sources, especially when it becomes an upper-middle income state, a status that restricts it from tapping “less expensive” Official Development Assistance (ODAs).

THE proposed Maharlika Investment Fund will allow the Philippines to expand its financing sources, especially when it becomes an upper-middle income state, a status that restricts it from tapping “less expensive” Official Development Assistance .

“In brief, the Philippines has to develop alternative sources of financing for its priority projects as ODA financing dries up,” Diokno added. “As a result of the scarring effect of the pandemic, upskilling and retraining of our young population have high social and economic payoff. In an aging world population, our young people—tech-savvy, easily trainable, and mostly English speaking—are our most formidable asset,” he added.

 

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