TIMELINE: How the Maharlika Investment Fund came to be

The timeline of the Maharlika Investment Fund is short: it started as a bill filed in the House of Representatives in November 2022 and was passed into law in July 2023, just shy of eight full months later.

Proponents of the fund say it will be an alternative source of financing for infrastructure projects that are currently heavily funded through official development assistance loans from multilateral and bilateral sources.

GMA News Online looked back over the last 13 months to retrace the journey of the Maharlika Fund so far.

Its initial capitalization is sourced from the national government and the country’s two largest state-run banks. The LandBank has transmitted P50 billion and the DBP P25 billion to the Maharlika Fund.

• The national government will contribute P50 billion from the following sources:
• Bangko Sentral ng Pilipinas' total declared dividends
• National government's share from the income of PAGCOR Properties, real and personal identified by the DOF-Privatization and Management Office
• Other sources such as royalties and/or special assessments

Under the law, the Maharlika Investment Corporation has an authorized capital stock of P500 billion, P375 billion of which shall have corresponding common shares available for subscription by the national government, its agencies or instrumentalities, government-owned and controlled corporations or GFIs, and government financial institutions.

The remaining P125 billion in capital shall have corresponding preferred shares available for subscription by the national government, its agencies or instrumentalities, GOCCs or GFIs, and reputable financial institutions and corporations. — BM, GMA News