The Finance department has ordered the Treasury bureau to study the possible issuance of P30 billion in debt securities to help fund the reconstruction of Marawi City.
Finance Secretary Carlos Dominguez 3rd said the “Marawi” bonds should appeal to citizens who would like to help rebuild the lives of fellow Filipinos.
“These are what you would call ‘patriotic’ bonds to help augment the funds that the government has set aside for Marawi’s rehabilitation,” he said.
Dominguez also asked National Treasurer Rosalia de Leon to study what tenor – possibly 20 years – to assign to the bonds.
Budget Secretary Benjamin Diokno has said that the government would release at least P15 billion to rehabilitate Marawi in the next two years.
Government forces have yet to clear the city of extremists who tried to take over last May. Thousands of residents have fled and parts of the city have been devastated in the fighting.