The Development Bank of the Philippines (DBP) and the Bases Conversion Development Authority (BCDA) signed on July 10, 2017 a Memorandum of Understanding (MOU) to strengthen their partnership in support of the Duterte administration’s “Build, Build, Build” program.
Under the MOU, DBP shall serve as BCDA’s financial advisor and funding arranger, assisting BCDA in evaluating and preparing projects for implementation.
DBP president and chief executive officer Cecilia C. Borromeo believes the partnership is a positive step for DBP to fulfill the Bank’s pivotal role as a key player in the National Government’s infrastructure development thrust. “As we celebrate our 70th anniversary, we hope that our partnership can become one of the milestones that we can look back on as DBP moves forward with its mandate as the country’s prime infrastructure bank.”
BCDA president and chief executive officer Vivencio B. Dizon, meanwhile, expressed excitement and optimism that the partnership with DBP, which he envisions to be broad and long-term, will lead BCDA from being a good to a great organization.
Lastly, DBP chairman Alberto G. Romulo stressed that this partnership will not be successful without the efforts of the able and competent teams of both BCDA and DBP led by two brilliant heads in Dizon and Borromeo.