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Businessmen pledge $50 million to help rebuild Marawi

Businessmen pledge $50 million to help rebuild Marawi

MANILA – A group of businessmen hopes to invest as much as $50 million to help rebuild Marawi City and unlock its potential as a manufacturing hub, one of its leaders said Wednesday.

The Bangsamoro Federal Business Council hopes to finish by June its master plan to redevelop 50 hectares of the city that was devastated by 5 months of fighting between government troops and Islamic State-inspired jihadists, said the group’s vice president for corporate affairs, Philsaco president CEO Datu Macapanton Jihad Abbas III.

The $50-million investment will be poured into a “new downtown,” he said.

The country on Wednesday marked one year since the start of the siege that led to the declaration of martial law in Mindanao.