Government issuing Marawi bonds next year — Diokno

By Lawrence Agcaoili (The Philippine Star)
Updated October 19, 2017 – 12:00am
http://www.philstar.com/business/2017/10/19/1750116/government-issuing-marawi-bonds-next-year-diokno

“As far as the Marawi bonds is concerned, we will do it sometime next year. Maybe in early January or sometime in the first quarter but not this year,” Diokno said, adding that the specifics and terms of the planned bond issuance are now being finalized.

In a forum, Diokno said the government is focusing on the pre-post conflict assessment wherein the Department of Budget and Management (DBM) has committed P5 billion this year and P10 billion next year.

Diokno said the settlement paid by Mighty Corp. and flag carrier Philippine Airlines would be used to fund the rehabilitation of Marawi City.

Finance Secretary Carlos Dominguez earlier announced the planned issuance of Marawi bonds to raise at least P30 billion for the rehabilitation of Marawi City.

On the sidelines of the World Bank-International Monetary Fund annual meetings in Washington, Diokno attended a technical working group meeting on Marawi rehabilitation with World Bank country director for the Philippines Mara Warwick and World Bank experts on post-conflict rehabilitation.

Warwick assured the Philippine delegation of the bank’s dedication to provide the technical expertise needed for the realization of post-conflict rehabilitation plans.