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MANILA, Philippines - The Philippines' biggest lender on Wednesday said local banks can provide at least $1 billion to finance infrastructure projects under the Aquino administration's public-private partnership (PPP) scheme.
"We can provide half of that, but you know, better for us to work with syndication instead of us. We would like to work with other banks, including government banks," Teresita Sy-Coson, Banco De Oro Unibank Inc. (BDO) chairperson told reporters on the sidelines of the 45th Annual Meeting of the Asian Development Bank Board of Governors.
Sy-Coson said BDO is looking at financing infrastructure projects as long as it they are "commercially viable and the risk is okay."
"The market is very liquid," she said.
Cosette Canilao, executive director of the state-run PPP Center said the government aims to bid out at least eight projects this year, including the P60 billion Light Rail Transit Line 1 South Extension project.
At present, the PPP Center is bidding out a P10.4-billion Department of Education project aimed at building 9,500 classrooms.
Last year, the government bid out the P2 billion Daang Hari Road Project.
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