State-owned Development Bank of the Philippines (DBP) has approved P98.3-million in maiden funding assistance for the Municipality of Canaman in Camarines Sur to jumpstart various priority infrastructure projects including housing development, a public market, intermodal terminal, multi-purpose buildings, and a municipal memorial park and public cemetery. Canaman is a 4th class municipality composed of 24 barangays, and a population of 31,583 with a growth rate of 2.64% based on latest government data. The loan proceeds would be used to purchase lots and commence site development, including a 5.5-hectare housing project that can accommodate about 560 beneficiaries including informal settlers.
Shown in photo during the signing of the loan agreement are (from left) Municipal Treasurer Leo Cataluna, DBP Senior Assistant Vice President Ariel Peña, and Municipal Mayor Nelson Legaspi. Standing at the back is DBP Assistant Vice President Maria Vivian Olayta.