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Davao may issue bonds to fund needed projects.
(From BusinessWorld (Philippines))
Byline: Hernani P. de Leon
DAVAO CITY - The city government aims to float bonds to raise funds for major infrastructure projects it intends to pursue within the next three years.
"I'm recommending bond flotation to the mayor and to the city council since borrowing from banks is more expensive," Vice-Mayor Luis Bonguyan said.
No estimates have been set on how much the city plans to borrow but Mr. Bonguyan said Davao has about P80 million allocated for social housing in the near term but needs at least P100 million more.
He said the city has debts of less than P200 million, adding that its capacity …
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