MANILA — Malacañang said Wednesday that the Maharlika Investment Fund (MIF) continues to carry out a mandate distinct from the development-financing functions of government financial institutions.
Palace Press Officer Claire Castro said the MIF is intended to generate long-term value through strategic and profitable investments that support socioeconomic development. The fund was established under Republic Act No. 11954 to pursue investments aligned with the government’s development objectives.
Castro said institutions such as the Land Bank of the Philippines, Development Bank of the Philippines, Philippine Guarantee Corporation and Small Business Corporation have their own mandates to provide financing assistance, including support for micro, small and medium enterprises.
“The Land Bank, the DBP, and the Philippine Guarantee and Small Business Corporation are equipped. They are the ones equipped to provide financing to MSMEs as part of their developmental mandates,” Castro said.
She stressed that the Maharlika Investment Fund serves a different purpose, focusing on long-term investments in strategic sectors and development projects.
“The Maharlika Investment Fund has its own mandate,” Castro said.
Under the MIF framework, the Maharlika Investment Corporation is tasked with managing and investing the fund while seeking sustainable returns and supporting development priorities. Government officials have also said the structure is intended to avoid crowding out the lending obligations of state financial institutions.
Castro said the differing mandates mean the MIF should not be viewed as a replacement for government banks and other financial institutions that provide development financing.
The Palace maintained that both perform complementary roles, with government financial institutions focused on lending and development financing while the MIF concentrates on strategic, long-term investments.
