Local government units (LGUs) looking to undertake public-private partnership (PPP) projects can avail of P2.85 billion in funds under a revolving facility, the Finance department said on Monday.
The Project Development and Monitoring Facility (PDMF) can be utilized by LGUs to check the viability, prepare bid documents and monitor the progress of their chosen ventures, the department said in a statement.
Other national government agencies can also tap the facility for pre-feasibility and feasibility studies, project structuring, preparation of bid documents, and project monitoring for PPP initiatives, the department added.
The PDMF, which is managed by the PPP Center, started with a P300-million revolving fund and a $6-million (about P300 million) initial contribution from the Australian government.
The fund has since grown to about P2.58 billion as of end-July, according to the Finance department\s Privatization Office.
The PPP Center website states that the PDMF has helped provide support to 35 projects, of which 10 had been awarded as of July 31, 2017.
A Project Preparation and Transaction Advisors Panel has been formed to provide services to potential PPP projects.
The panel consists of 22 firms that include Jones Day (USA), Castalia Ltd of New Zealand, KPMG Service Pte. Ltd (Singapore), McKinsey & Co (Philippines), CPCS Transcom (Canada), International Technical Assistance Consultants, SL (Spain), Deloitte Touche Tohmatsu India LLP (India), and BDO LLP (United Kingdom) in coordination with Philippines-based law offices and accountancy firms.
Besides the PDMF, the Finance department said LGUs could also tap local funds, grants or request for allocations under the General Appropriations Act to help fund the pre-investment aspect of proposed PPP projects.