The World Bank and Asian Development Bank have agreed to support the Philippine government’s public-private initiatives by setting up “infrastructure funds” for PPC projects, Business World reports. Neeraj Jain, ADB’s country director, said the multilateral banks are looking at issuing peso bonds to mobilize the funds, to be co-managed by ADB, the World Bank and the Philippine government.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.