DBP vows more loans for infra, environmental projects | Inquirer Business
Close  

DBP vows more loans for infra, environmental projects

By: - Reporter / @daxinq
/ 03:55 PM April 13, 2018

The Development Bank of the Philippines (DBP) has vowed to allocate more funds for loans to infrastructure and environmental projects to provide more potable water and improve waste management in far-flung areas of the country, its chief said.

The bank is prepared to provide assistance to towns and municipalities that seek to improve long-term water availability and accessibility, and to undertake projects that would reduce air and water pollution, improve solid waste management, and advance climate change adaptation and disaster risk reduction, DBP president and CEO Cecilia Borromeo said in a press statement.

ADVERTISEMENT

“DBP remains committed to providing ready and accessible financing for local government units for their development projects on water availability as well as solid waste management and sanitation,” she said.

The state-owned financial institution is the eighth-largest bank in the country with more than P600 billion in assets as of end-March 2018.

FEATURED STORIES

The bank provides financial support to four major areas namely, infrastructure, small and medium enterprises, social services and environment.

Last year, the bank released P76.23 billion in loans for infrastructure and logistics projects as well as P57.06 billion in funding assistance for environmental projects.

The bank’s water projects are funded under its Water for Every Resident Program, while its support for environment initiatives are carried out through its Green Financing Program.

Borromeo said DBP is also ready to provide financial assistance to local governments to improve their water sanitation and sewerage systems and facilities, especially in known tourist destination areas in the country.

“We are one with government’s efforts to directly address these environmental concerns and preserve the natural ecosystem of these tourist spots,” the DBP chief said.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Cecilia Borromeo, Development Bank of the Philippines, environment, infrastructure projects, Loans, local government units, waste management, water
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.