Skip to main content

PRESS RELEASE: DBP approves P40-B infra loans


State-owned Development Bank of the Philippines (DBP) has approved P39.5-billion in loans under its flagship credit program that aims to address funding gaps in infrastructure development in the country, a top official said.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said that from January to June this year, a total of 440 borrowers have already availed of funding support under the bank’s Infrastructure Contractors Support (ICONS) program which was first rolled-out in 2017.

“DBP has sharpened its focus on the infrastructure build-up program of the National Government to provide further impetus to the country’s economic rebound,” Herbosa said. “As the country’s premiere development financing institution, DBP continues to assist contractors in meeting the growing demand for meaningful public infrastructure projects.”

DBP is the fifth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.

DBP’s ICONS program extends direct financing to construction contractors to fund various types of infrastructure activities including those in the transport, water supply and wastewater and sanitation, communications as well as social, power and energy sectors.

Herbosa said that as of the first half of the year, the ICONS program has provided funding assistance to 151 borrowers located in Luzon, 134 in the Visayas, and 145 in Mindanao, including 10 firms with multiple project sites.

He said DBP would continue to support the National Government’s initiatives this year under the massive Build Build Build program, which has a total allocation of P1.18-trillion for public works and transport programs under the 2022 National Expenditure Program.

“Infrastructure development is indispensable to propel economic growth as well as to enhance quality of life,” added Herbosa. “DBP will remain at the forefront of providing the needed assistance to boost economic recovery, sustain gains, and ramp-up growth.”

Labels:

Comments

Post a Comment

Popular posts from this blog

Dumaguete crime rate drops

  DUMAGUETE CITY, Negros Oriental, Nov. 10 (PIA) -- The Dumaguete City Police Station has reported that between October 1 to Nov. 7, only 70 crime incidents were recorded, a decrease by 21% compared to 91 incidents in the same period of last year. In a City Peace and Order Council meeting, Lt. Col. Ronoel Fungo disclosed that no homicide, murder, robbery, carnapping, rape and rape with homicide cases were reported in the same period.  The City Health Office also reported that of the total 905 surrenderees or people who use drugs (PWUDs) in 2017, around 334 or 37% have completed their assessment as of Nov. 7, 2023. With the absence of drug dependents and pushers in Poblacion 4, 5, and 7, these are considered drug-free barangays, while Poblacion 6 was declared drug-cleared.  The City Health Office also noted that the low or no response to assessment of PWUDs are due to change of address, unknown whereabouts, conflict in work schedule, and imprisonment.  Meanwhile, the ...
Post a Comment
Read more

POPCOM7 strengthens KATROPA implementation in CV LGUs

  (Center left) Board of Director KATROPA Danao City Federation, Juan Capuno Jr. and POPCOM KATROPA Focal Person, Roberto Yana (Center right) CEBU CITY, Cebu, March 1 (PIA) -- The Commission on Population and Development (POPCOM) Region 7 is strengthening the implementation of Kalalakin-an nga Tinud-anay sa ilang Responsibilidad og Obligasyon sa Pamilya (KATROPA) in the local government units (LGUs). During the Kapihan sa PIA, KATROPA Focal Person Roberto Yana disclosed that they aim to educate the male population of their responsibilities in the family, especially on their roles as son, husband, and father.  Members undergo a training of trainers to have a wholistic understanding of their roles and responsibilities in family planning. Yana explained that they accept members as young as 15 years old so they would be educated on community development, livelihood, and responsible parenthood.  In the same forum, Board of Director of the KATROPA Danao City Fede...
Post a Comment
Read more

EMB 7 creates composite team for water sampling

The Environmental Management Bureau (EMB) 7 of the Department of Environment Natural Resources Central Visayas on Tuesday, Dec. 28, has created a composite team for water sampling in the different parts of the region affected by Typhoon "Odette" (International name: Rai). The EMB 7 deployed two teams conducting ambient water sampling in the Northern Cebu (Liloan area, Consolacion, Mandaue and Mactan Coastal Area) and Southern Cebu (Cebu Port Area, Talisay, Naga and San Fernando). The bureau said the first two samples from Punta Engaño near Movenpick Hotel Mactan Island Cebu and Umapad, Mandaue City near the bridge and Petron) taken last Dec. 23 and 24 were brought to Ostrea Laboratory since the EMB laboratory cannot analyze due to no electricity. The office is still awaiting the result for these two samples which will be available by Wednesday, Dec 29.  It said the other samples taken on Tuesday will also be brought to Ostrea laboratory, an accredited laboratory of EMB 7. (ID...
Post a Comment
Read more