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Elmer Francisco seeks Maharlika funding for e-jeepneys

By Eileen Mencias

Las Piñas jeepney maker Elmer Francisco is hopeful that talks for a possible funding from the Maharlika Investment Corporation are moving forward.

Francisco owns eFrancisco Motors that has a plant in Jose Panganiban in Camarines Norte for the manufacture of fully electric jeepneys.

In a post on jeepney.io, the social media platform Francisco himself created, he said he had a second meeting with MIC president and CEO Joel Consing who was joined by MIC Investments Committee chairman Andrew Gan, and MIC Board Member Vicky Lim.

“So far, so good. Looking forward to our 3rd meeting and hopefully we could already wrap this up to get this venture off the ground,” Francisco said.

The MIC manages the Maharlika Investment Fund, the Philippines’ controversial sovereign wealth fund, that aims to promote sustainable economic development while obtaining optimal absolute returns on its investments.

MIC received a total of P75 billion from the Land Bank of the Philippines and the Development Bank of the Philippines in September 2023 that serves as its start-up capital.

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