State-owned Development Bank of the Philippines (DBP) recently granted a P550-million term loan to the Provincial Government of Camarines Sur to finance 343 priority developmental projects in the different municipalities of the province.
The loan will finance various infrastructure programs in the province such as school buildings, road projects, multi-purpose buildings and covered courts, health centers, mini pavilions and acquisition of farm/agricultural and road-building equipment.
DBP had also previously financed other projects of the LGU including Gota Beach Resort and the world-renowned CamSur Watersports Complex (CWC) that hosts local and international wakeboarding competitions. Both projects continuously boost the tourist influx in Camarines Sur, making the province not only the top tourist destination in Bicol Region, but also one of the most famous in the Philippines.
DBP had also received an award from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for financing the various developmental projects of the Provincial Government of CamSur.