Press Releases

Statement on the issuance of the new MIF IRR

November 11th, 2023

Rep. Joey Sarte Salceda

As I said repeatedly during the past month, it was always about recruiting who the President thinks can run MIF best. The most important change here is that the President can now require the Advisory Body to submit additional names if he sees that to be necessary. Considering that the nominees still have to pass all necessary qualifications set by the Advisory Body, that actually widens the net we cast for appointees to lead the MIF. That was almost the entire point of the revision.

As I said back then, no need to overthink this. It’s not about resurrecting old issues that were already addressed or supposed fears or misgivings. It was always about who can lead this best in the President’s judgment.

Now let’s move forward to more pressing issues – like what investments are the most critical at this point of our development. Water, transport, and energy infrastructure certainly come to mind.

As PBBM promised, MIF will be online by the end of 2023, and could make initial investments by the start of 2024.

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