The Development Bank of the Philippines (DBP) won three awards during the recent Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards held in Vietnam.
DBP’s 35 MLD Cebu Bulk Water Project won in the Local Economic Development Category of the ADFIAP Outstanding Development Project Awards. The project is a new model for public-private partnership projects for bulk water supply initiatives for local economic development. The provision of a more sustainable water supply is expected to further amplify the fast-growing economic development of the Province of Cebu which owes its strong economy to many commercial and business enterprises and rapidly growing industries that include, among others, shipping, furniture-making, information technology, business process outsourcing, tourism and about nine economic zones. The Project will also directly benefit more than a million residents of the province. This ADFIAP Award given to DBP recognizes its commitment in successfully promoting and developing local economic development initiatives in the country.
DBP’s Good Governance Program won in the Corporate Governance Category of the ADFIAP Outstanding Development Project Awards. DBP believes that corporate governance is key to attaining its strategic mandate as a catalyst for sustainable development. Having this is mind, the Bank adopted governance policies to ensure that its culture of ethics, compliance and social responsibility permeates all levels of Bank operations and practices. The Bank’s Good Governance Program reinforces core ethical values critical to corporate governance such as integrity, excellence, teamwork, service to others and love for the Filipino, values which dictate how the Bank deals with stakeholders, i.e., the National Government, clients, subsidiaries, regulatory agencies and its own officials and employees.
For its good governance efforts, DBP holds the distinction of being the first GOCC to be initiated by the Institute of Corporate Directors into the Performance Governance System (PGS) in 2012. Two years later, DBP attained Compliant Status under the PGS that is administered by the Institute for Solidarity in Asia which, along with its sister institution, ICD, is the leading advocacy and accreditation agency for good governance in the public or government sector. The Bank is on track to be accredited as an Island of Good Governance, a project of the ISA to be presented during the APEC meeting next year. This ADFIAP Award given to DBP recognizes its efforts in successfully integrating a good governance program as core to its business operations and mandate.
DBP also received a Plaque of Merit in recognition of its “DBP Bankability Enhancement for SET-UP Technopreneurs (DBP-BEST)” and “Inclusive Lending for Aspiring Women Entrepreneurs (ILAW)” projects for their significant contributions to the nation’s socioeconomic, technological and human development efforts. DBP-BEST provides small and medium enterprises access to finance and technical assistance. ILAW supports women-owned, managed, and/or controlled small and medium enterprises.
ADFIAP is an organization of development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. The annual ADFIAP Awards recognize and honor member-banks that have undertaken or assisted projects that have created a development impact in their respective countries by implementing or enhancing outstanding and innovative development projects.