WATCH: What is the proposed “Maharlika Wealth Fund"?

MANILA, Philippines — As the country grapples with the impact of the COVID-19 pandemic, the government looks for ways to hasten financial recovery.

One of which is the proposed creation of a P250-billion sovereign wealth fund called the “Maharlika Wealth Fund”.

Under the guidelines set in House Bill 6398, this fund aims to pool government money to invest in different sectors both domestically and internationally.

But where will the money come from and who will be the one to manage it?