DBP Remits 25 Billion Pesos to Philippine Sovereign Wealth Fund
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State-lender Development Bank of the Philippines said it released 25 billion pesos ($440 million) to the government as its share in the initial capital of the nation’s sovereign wealth fund.
The capital contribution from DBP and Land Bank of the Philippines will pave way for the full operationalization of the Maharlika Investment Fund, Finance Secretary Benjamin Diokno said in the lender’s statement.