Tuesday, 29 May 2012 11:22
President Benigno S. Aquino III announced on Monday the creation of a P25-billion investment fund which the Government Service Insurance System (GSIS) would allocate funds to strengthen infrastructure projects in the Philippines.
The President made the announcement in his speech keynoting the 75th Founding Anniversary of the GSIS held at the institution’s headquarters in Pasay City.
Dubbed the Philippine Investment Alliance for Infrastructure (PInAI), the President said this investment fund, the largest single investment on infrastructure, would be formally launched in July of this year and is expected to improve the economy and provide more jobs.
“Sa Hulyo nga po ay ilulunsad na ang Philippine Investment Alliance for Infrastructure o PInAI. Dalawampu’t limang bilyong pisong pondo po ang nakataya rito; ito ang pinakamalaking pondong ilalaan para sa imprastraktura ng bansa,” the President said.
He added that the GSIS would work closely with the Macquarie Group, a global provider of banking, financial advisory, investment and funds management services with more than 70 offices in 28 countries in ensuring the project's success.
“Ang GSIS ang nanguna sa pagtataguyod ng pondong ito na pangangasiwaan naman ng Macquarie Group. Bukod sa ihahatid nitong serbisyo, magbubunsod pa ito ng lalo pang pagginhawa ng ekonomiya, at manganganak ng maraming trabaho,” the President said.
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