MANILA — The Maharlika Investment Fund is seen to accelerate the completion of the government's priority projects by opening new funding sources, Finance Secretary Benjamin Diokno said on Monday.

The MIF, which was recently signed into law by President Ferdinand Marcos Jr., will invest in high-yielding infrastructure projects, among others.

Diokno said it would help fund the 194 priority projects of the government worth P8 trillion.

"Without Maharlika, about 55 percent of that will be funded by the Official Development Assistance (ODA), around 10 percent from the national budget, and 30 from percent Public-Private Partnership," Diokno told ANC.

"With the Maharlika, you open another area of financing, now we can accelerate the implementation of these projects which we need very badly," he added.

Diokno said on Friday the MIF could have at least P100 billion in available funds by the end of the year.

He said the Landbank of the Philippines approved its P50 billion investment in the MIF last Friday while the Bangko Sentral ng Pilipinas declared a dividend of P31.859 billion in favor of the national government last week.

“It is safe to say that the fund is well-capitalized at the very start and we can start na by the end of the year. So if there are investible projects that we can apply those money, that P100 billion, then we will,” Diokno earlier said.

The MIF's implementing rules and regulations may be completed by the end of August while the entire board might be named by September.

Diokno said Marcos Jr. recognizes that the key to the MIF's success is in choosing competent managers.

• Marcos Jr. signs Maharlika Investment Fund into law
• Diokno: Maharlika fund up and running before end of 2023

— With reports from Jessica Fenol, Michelle Ong and Andrea Taguines, ABS-CBN News