The Development Bank of the Philippines yesterday urged the Negros Occidental provincial government to join its Unlad Pamahalaan money market fund.
It is a facility that will provide a safe source of higher income for LGUs, Rafael Coscolluela, provincial government consultant on investment promotions, trade and exports development, said.
“I think all LGUs should be interested in this, but it requires a minimum of P100 million, which city governments can afford because they have the income,” he said.
Marañon said he is amenable to the DBP offer because it will be advantageous to the province.
Unlad Pamahalaan is a money market fund that aims to generate a steady flow of income with emphasis on capital preservation through investments in a diversified portfolio of low-risk securities issued by the Philippine government and/or Philippine government banks and deposits in Philippine government banks with a duration of not more than one year,.
It will cater to the needs of government entities with conservative risk appetite and short-term investment horizon, it added.*CPG
back to top