DBP now serving 90% development, 10% commercial loan assistance projects in Mindanao

July 21, 2009 10:14 pm 

DAVAO CITY, July 22 — The Development Bank of the Philippines (DBP) is now serving 90 percent development and 10 percent for commercial loan assistance projects in Mindanao, this was revealed by DBP board member for Mindanao Rey Magno Teves.

However, Teves did not give detailed data on the programs.

He said the bank finances development loans such as on infrastructure in line with the "Ro-Ro" (roll-on-roll-off) nautical highway and cold chain for faster movement of goods, other social services projects, the environment, hospitals, public markets, depots and other related projects.

Teves said DBP is into its new policy thrust of going back to basics, quoting DBP chief executive officer Rey David among others to put more financial muscle, maintain strong corporate social responsibility, observe safety of balance sheet and earnings.

He said in the pipeline is a hospital project in Mati, Davao Oriental.

Teves said loan sharing by areas is still being denominated by the National Capital Region, explaining that most of the proponents have their main offices in Manila and the fund that were accessed in the bank were used for expansion programs in Mindanao.

However, he said there is now a shift of the ratio five years ago as current share registered at 88 percent for development loans and 12 percent commercial.

Teves said these were reversal from 60 percent on commercial loans and 40 percent for developmental loans before.

He said with the coming Board Meeting and Forum to be held in Davao City on August 5, 2009 at the Marco Polo Hotel Davao, DBP will provide the bank's officials a current feel of the situation in Mindanao and for them to be able to see to they could actively participate in the development of the island.

"We are hoping to have more participation here through our programs and projects," he said.

Teves said during the Mindanao business forum which they will undertake in coordination with the Mindanao Business Council (MinBC), Mindanao Economic Development Council (MEDCo) and the Davao City Chamber of Commerce and Industry, Inc, (DCCCII), the stakeholders here have the chance to present their programs for possible partnership with DBP.

He said it will also be in the same forum that Al-Amanah Bank will be presented to the stakeholders of Mindanao.

DBP gained full control of Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), the first and only Islamic bank in the country mandated to serve the banking needs of the Muslim community in the country.(PNA) LDV/DDB


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