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 ...