State-owned Development Bank of the Philippines (DBP) has been recognized by a distinguished international publication for its contribution to the upgrading and modernization of the country’s primary international gateway, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the Bank is one of the recipients of the “Best Syndicated Loan Deal of the Year 2024” award of Alpha Southeast Asia in the 18th Annual Best Deal and Solution Awards 2024 for its participation in the P52-billion syndicated senior project finance term loan facility for the Ninoy Aquino International Airport (NAIA) Public-Private Partnership (PPP) Project won by the San Miguel-led New NAIA Infra Corp.
“DBP’s active involvement in this critical infrastructure project mirrors its efforts to help promote an accessible, efficient, and seamless airway transportation service for the benefit of the public and as aligned with President Marcos, Jr.’s infrastructure development plan,” he said.
DBP is the tenth largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
Alpha Southeast Asia is an institutional investment and transactional banking magazine which aims to provide a platform for banks and financial institutions in Southeast Asia to highlight their services and products and enhance their public image. The 2024 awards edition assessed the credentials, track record, performance, and growth of top financial institutions in the region.
De Jesus said DBP contributed P2.53 Billion to the facility which financed the capital expenditures for the project to rehabilitate the NAIA as well as related transaction costs, fees, and expanses.
He said DBP’s involvement in the project reflects the Bank’s unyielding support to President Marcos, Jr.’s goal of reinvigorating the country’s main gateway as well as the public sector transport system through “strategic infrastructure investment.”
“This award is also in recognition of the positive impact that both the public and private sectors play in addressing the infrastructure financing gap and helping sustain the economic growth of the country,” de Jesus said.
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