The Department of Finance (DoF) said it is looking to generate over $23 billion financing from external sources this year to bridge the government’s budget gap and provide funds for priority projects.

In a statement, the Finance department said Undersecretary Mark Dennis Joven reported that of the total of $23.71 billion (about P1.13 trillion) $8.06 billion (34 percent) will be contracted for budget support purposes, while $15.65 billion (66 percent) will be for project financing.