State-owned Development Bank of the Philippines (DBP) recently granted loans to a water district and a maritime school in Camarines Sur as part of its continuing efforts to help improve the delivery of social services in the province.

DBP president & chief executive officer Francisco F. Del Rosario, Jr. said the bank’s P85.7-million term loan to the Iriga City Water District (ICWD) will refinance the latter’s existing loan with the Local Water Utilities Administration (LWUA). The said loan is in support of the water district’s thrust of providing safe, adequate, and potable water to its 8,940 concessionaires in Iriga City and the municipality of Nabua. Savings generated from the loan refinancing will be used for various expansion and rehabilitation projects of ICWD.

DBP also granted a P22.1-million loan to Mariners Polytechnic Colleges Foundation of Canaman, Camarines Sur, Inc. (MPCFCCI) to partly finance the construction of a three-storey school building and dormitory.

The said building will house 12 new classrooms that will improve the school’s student-to-classroom ratio, and 10 new dormitory rooms that will provide lodging facilities for students coming from neighboring municipalities.

The biggest maritime school in Bicol, MPCFCCI is among the top 10 maritime schools in the country accredited by the Commission on Higher Education.