DBP aims to lend P58B to power sector by 2030

MANILA  -Development Bank of the Philippines (DBP) expects to have lent out a total of P58 billion for power generation-related activities by 2030 amid efforts to help address rising demand for electricity as the domestic economy continues to expand.

“DBP is ready to provide the necessary financial and technical assistance to all firms that are seeking new opportunities to meet the expanding energy requirements, especially in areas of the country where there is a resurgence of economic activity,” DBP president and CEO Michael de Jesus said in a statement.

De Jesus said the state-run bank’s loan programs for the energy sector would be beneficial to firms seeking to expand capacity or venture into power generation projects especially in underserved areas of the country.

He said DBP, currently the country’s eighth-largest bank in terms of assets, “remains a relevant and reliable partner of the national government in serving the financing needs of strategic and critical economic sectors.

The bank CEO was particularly referring to activities in infrastructure and logistics, social services, and the environment, and also to micro, small and medium-sized enterprises.

DBP is bent on highlighting its relevance to national development efforts as the Department of Finance pushes for President Marcos’ go signal for its merger with the Land Bank of the Philippines.

RELATED STORIES:

https://business.inquirer.net/399511/landbank-dbp-merger-done-deal-by-nov

https://business.inquirer.net/395796/landbank-dbp-ramp-up-lending-as-merger-looms