Tuesday 21 May
Nov 18, 2018 @ 13:12

After Doing Business feud, DOF still wants World Bank’s help


They can’t cut off ties just like that.

The Department of Finance (DOF) may have fumed over the Philippines dropped several notches in the World Bank’s Ease of Doing Business Report for 2019 and questioned the global lender’s methodology for the all-important study.

It seems they soon realized how big a force the World Bank is, as they resumed discussions with the global lender to ask for help in crafting an insurance structure for public assets.

?We want to develop this strategy in which we can have a way to analyze our risks to decide how much we will take and how much we will pass on to the insurance market, not only for our national government assets but also for assets at the local government level,? Dominguez said during the meeting held in Indonesia.

Dominguez said they are also tapping Lloyd?s of London and the Citi Group for reinsurance for state-owned properties.

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