Congress yesterday asked the Philippine government to study a proposal to issue a 150 billion peso ($3.2 billion) retail bond to fund a long-term military modernization plan to secure its strategic reserves in the South China Sea. Arnel Ty, House Deputy Minority Leader said Congress will ask the Treasury to consider a bond issue to enable Filipinos to save and at the same time, help secure the Philippines' maritime borders against China's rapid expansion in the South China Sea.

P150B retail bond proposed for PH military modernization. (2016, January 12). Malaya, p. A3.