DBP seeks financial advisor role in govt infra fund

State-run Development Bank of the Philippines (DBP) wants the role of financial advisor to the proposed multi-billion peso infrastructure fund the national government is setting up. DBP president and CEO Francisco del Rosario said Wednesday the fund should lure big money players to join the program. "DBP will help arrange the debt financing required for each [infrastructure development] project," Del Rosario said. The newly installed DBP official said, "We will assist in developing the pipeline for the projects" coming out from the departments of Energy, Tourism, and Public Works and Highways. "The projects and plans the new DBP president talks about are precisely what the country needs. His plans marry the needs of the ordinary Filipino community's requirements with the country's long-term development goals," said Rey David, who is Del Rosario's immediate predecessor. David said infrastructure buildup was "the way to go" towards the future, and a number of local and foreign proponents are just waiting for projects under the government public-private partnership program or PPP to begin to roll. Finance Secretary Cesar Purisima earlier said that the multi-billion peso fund represents the pooled resources of investors who believe in the country and are prepared to risk their time, money, and reputation. —JE, GMANews.TV