The Maharlika Investment Fund will be funded by the central bank, gaming revenue, two government-owned banks, and private financial institutions and corporations.

The original proposal had called for the fund to be partly bankrolled by state-run pensions, but this was dropped in the final version of the bill.

The fund will be allowed to invest in a wide range of assets, including infrastructure projects, and is expected to create jobs and reduce poverty.

However, critics have raised concerns about corruption and the potential for the fund to be mismanaged.