Philippines needs $15B to fund infra projects 'til 2030 – Diokno

The Philippines will need some $15 billion to finance the infrastructure projects in the next 13 years, Budget Secretary Benjamin M. Diokno said late Tuesday

"We need 15 billion dollars from now until 2030," Diokno said during the second Dutertenomics Forum in Pasay City, when asked about the opportunities for the private sector under the "golden age of infrastructure" program of the Duterte administration.

"There's a lot of opportunities," he said.

Diokno earlier said the Philippines plans to spend more than P8.2 trillion on the golden age of infrastructure over the next six years, with P860.7 billion allocated to large-scale projects this year.

Diokno noted the administration is also looking at the possibility of doing "hybrid" public-private partnership projects. "The hybrid, this means that the government will just choose the project, look for financing, and then we will let the private sector build the project," he said.

The scheme is also referred to as build-operate-transfer, in which the private sector builds the project, manage and operate it for a certain period before it is turned over back to the government.

Diokno also said the government has opened the door to unsolicited proposals, so that private companies may submit their planned infrastructure projects for government approval. — VDS, GMA News