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DBP OKs P2.9-B for Isabela Infra, Health Care Projects

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DBP and the Provincial Government of Isabela recently signed a P2.9-billion loan agreement for the rehabilitation of the Ilagan-Divilacan road and the upgrading of government hospitals in the province.
The loan will partly finance the rehabilitation of the Ilagan-Divilacan road that connects the coastal towns of Divilacan, Palanan, Maconacon, and Dinapigue to the mainland part of the province.  The infrastructure project will be financed with a total cost of P2.28-billion, with P1.6-billion of the funding coming from the DBP loan.

There is presently no existing road that connects the four towns to neighboring municipalities, with boats and planes serving as the only available means of transportation.

Likewise, P1.3-billion of the DBP loan will also fund the rehabilitation of government hospitals in Isabela, specifically for projects like the acquisition of modern medical and office equipment, hospital digitalization, improvement of building structure, and purchase of heavy equipment.

DBP President Gil A. Buenaventura underscored the importance of the assistance, particularly in hastening economic activity in Isabela, saying: “Highways serve as the arteries of progress, they facilitate not just the mobility of people but more importantly, usher in economic opportunities and along with that, improved lives for our people.”

DBP Chairman Jose A. Nunez, Jr. (third from left) and DBP President & Chief Executive Officer Gil A. Buenaventura (center) pose with Isabela Governor Faustino G. Dy III (second from left) during the signing of the loan agreement. Also in photo are (from left): Isabela Provincial Treasurer Ma. Theresa Araneta-Flores, DBP Executive Vice President Anthony T. Robles, DBP First Senior Vice President Ma. Teresa M. Jesusadason, and DBP Assistant Vice President Catherine T. Camarao. At the back are officers and staff of the Isabela Provincial Government and DBP.

 

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