Banks ready to finance gov't infra projects

BANKS are ready to come in with funding support for the Duterte Administration's ambitious P7.74-trillion infrastructure projects, should they encounter any "funding delays" for these big-ticket undertakings.

Speaking as one of the private sector panelists in a business forum titled "Building for the future" hosted by CNN Philippines, BDO Capital and Investment Corp. president Eduardo V. Francisco said domestic banks are very much ready to provide support.

"BDO Capital fully supports the government's infrastructure initiative. As a bridge, (government can) use banks for funding if there are delays, no matter what funding scheme is utilized," said Francisco.

BDO Capital, the investment banking arm of BDO Unibank, provides diversified services that include trading and underwriting securities, loan syndication, financial advisory services, and project finance services.

It continues to dialogue with government and potential bidders on how the whole BDO group can help fund projects -- from the advisory stage all the way to project financing.

Infrastructure is among the top priorities of the Duterte Administration with public spending targeted to reach P8 trillion to P9 trillion from 2017 to 2022.

Moderated by CNN International correspondent Andrew Stevens and CNN Philippines chief correspondent Pia Hontiveros, the forum brought together the country's economic managers to discuss the status of the government's infrastructure development plan.