DBP lends P2B for Kabankalan City flood control projects
MANILA, Philippines — State-owned Development Bank of the Philippines (DBP) has approved a P2-billion loan to the local government of Kabankalan City in Negros Occidental to fund infrastructure projects that will address decades-long flooding.
According to the DBP, Kabankalan City will use the funds to implement infrastructure projects designed to mitigate flooding caused by the overflow of the Ilog-Hilabanga River, a natural catch basin that swells during heavy rainfall and typhoons.
The loan comes in three tranches under the Assistance for Economic and Social Development (Asenso) for Local Government Units Financing Program, which covers climate adaptation and disaster-resiliency public works and engineering projects.
It includes a 15-year term loan of P1.68 billion, a 10-year loan of P318.7 million and a five-year loan of P1.3 million.
The city is the largest by land area in the province, with a population exceeding 200,000, and is among Negros Occidental’s primary rice producers.
READ: LandBank, DBP urged to offer zero-interest loans to LGUs for MSMEs aid
Long-time supporter
“DBP has been a stable and consistent partner of Kabankalan City, even before it was established as a city in 1997,” DBP president and CEO Michael de Jeus said.
“The Bank has supported numerous projects that have created economic opportunities for Kabankalanons. This latest initiative further strengthens DBP’s fruitful relationship with the LGU,: he added.
READ: DBP completes disbursement of P1-B interest rate subsidy to LGUs
The Kabankalan loan follows DBP’s recent P3.5-billion financing to the Camarines Sur provincial government in February.
As of December 2025, the bank has approved P173.80 billion in loans for 456 projects under the ASENSO program.
De Jesus said DBP aims to further expand its network of local government partners nationwide by providing development financing for high-impact projects that promote long-term economic growth./dda
