Direct international bonds, new funding source for LGUs?

Local governments need not worry about where to source funding for income-generating projects, an official of the Mindanao Business Council said in a press conference marking the end of the two-day BIMP-East ASEAN Growth Area (BIMP-EAGA) investment conference Tuesday.

Vicente Lao, MinBC chair, announced an emerging scheme how local government units, who play a crucial role in helping improve the business climate, could access funds.

“You will be surprised how international financing works and what available sources of funds local government could access,” he said.

Lao was referring to the floating of municipal bonds to international financing organizations, which he said is now available to LGUs without jeopardizing their internal revenue allotment (IRA). Read the rest of the report on MindaNews.com.