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DBP approves P1.4-billion in loans for transport infrastructure


State-owned Development Bank of the Philippines (DBP) is stepping up its assistance to the transport and logistics sector with its flagship infrastructure and transportation initiative, the Connecting Rural and Urban Intermodal Systems Efficiently (CRUISE) program.

DBP president & chief executive officer Francisco F. Del Rosario, Jr. said that the bank has approved 14 projects totaling P1.4-billion under the program, with projects ranging from roads, packaging, transport and distribution facilities to cold chain facilities.  The projects are located in Isabela, Nueva Ecija, Bataan, Batangas, Sorsogon. Cebu, Negros Oriental, Negros Occidental, Eastern Samar, Agusan del Norte, Agusan del Sur, and Surigao del Sur.

He added that DBP is evaluating 31 other projects totaling P2.6-billion, with nine prospective accounts totaling another P705-million.

Del Rosario said that DBP is continuously coordinating with concerned government and private agencies and institutions in establishing inter-agency partnerships and in identifying investment opportunities in the transport sector, supply chain mainly in post-harvest technologies and facilities and logistics.

He added that DBP is also set to conduct a series of road shows and seminars in several regions in the second half of the year to encourage more investments for the program.

DBP has earmarked P22-billion for the CRUISE program which was launched this year. The CRUISE program is aligned with the Philippine Development Plan 2011-2016 for infrastructure investments which prioritizes the creation of an integrated and multimodal national transport and logistic system.  It also seeks to promote rural-urban integration and physical connectivity, promote decentralization and reduce urban congestion, and accelerate economic growth particularly in high potential growth sectors, and leverage limited public resources for infrastructure through Public-Private Partnerships.