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PIA Press Release
2009/10/03

DBP takes aggressive role in rural development

by Peter Balocnit

Tabuk, Kalinga (3 October) -- The Development Bank of the Philippines (DBP) here is aggressively seeking partners for its vast package of financial assistance.

Marieta Garcia, Acting Head of DBP-Tabuk branch, assured clients its readiness to provide the necessary financial needs particularly the local government units (LGUs) that are solely dependent on internal revenue allotment. She said DBP also extend loan assistance to other government project implementers and the private investors.

Owing to the great potential of the province, Garcia said banking institutions could come in to address their limitations in terms of financing.

"LGUs have good plans, colleges are growing and the business climate here is promising. What is needed for the banks is to play an aggressive role in supporting the development plans of their clients. At the end of the day, we all benefit from these projects", she quipped.

Garcia said the bank can finance school buildings, construction of hostels, gymnasiums, agro-forest projects, technical researches, livelihood projects, agriculture production, micro-finance to cooperatives, and capital for business.

Garcia assured that the project they support is feasible, viable and is closely monitored during its implementation. Though we require equity in the case of LGU projects, we are also obliged to ensure completion of projects to protect our image, Garcia explained, adding that the bank can not just release cash amounts without validating first the status of the project. (PIA-Kalinga) [top]

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