Malacañang defended the operational design of the Maharlika Investment Fund (MIF), asserting that the sovereign wealth entity remains effective in fulfilling its core mission despite criticisms over its exclusion of direct financing for micro, small, and medium enterprises (MSMEs).
The Palace issued the statement in response to suggestions that capital tied up in the fund could be redirected toward low-interest loans and credit facilities for local small businesses.
Clarifying the mandate of the Maharlika Investment Corporation (MIC), executive officials stressed that the sovereign wealth fund was structured specifically to generate high-yield equity returns and mobilize capital for large-scale, strategic development projects.
”The Maharlika Investment Fund was never envisioned as a lending window or a micro-financing vehicle for small businesses,” the Palace statement noted, pointing out that existing government financial institutions are already mandated to service MSME credit needs.
Officials highlighted that specialized state lenders, such as the Small Business Corporation, the Land Bank of the Philippines, and the Development Bank of the Philippines, maintain dedicated programs to support local entrepreneurs and small enterprise expansion.
The administration reiterated that the MIF’s primary role is to crowd in foreign and private capital for critical infrastructure, energy transition, and industrial ventures aimed at boosting broader macroeconomic growth.
Reaffirming confidence in the fund’s portfolio strategy, Malacañang stated that the MIC’s current governance structure ensures capital is deployed effectively into high-impact investments that yield long-term national benefits rather than overlapping with traditional state banking functions.