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MANILA - State-owned Development Bank of the Philippines (DBP) has granted a new PHP311.8-million term loan to the local government unit (LGU) of Tuguegarao City to bankroll public infrastructure and agriculture productivity enhancement projects in the area, a top official said. DBP president and chief executive officer Emmanuel Herbosa said the loan was extended under the Assistance for Economic and Social Development for LGUs Financing Program - Bayanihan Interest Subsidy Fund and would be used to finance the construction of a core shelter housing project, drainage systems, an evacuation center, road concreting, as well as the acquisition of agricultural equipment, among others. "Through this partnership, DBP is confidently making a leap forward to support more inclusive growth initiatives in LGU Tuguegarao City," Herbosa said. "These worthy initiatives would be pursued under a framework of inclusivity - where people are mainstreamed into the growth process both as ben

Cagayan valleyPhilippines generalTuguegarao cityQuezon cityEmmanuel herbosaBayanihan interest subsidy fundLgus financing programDevelopment bankCash management solutionsSocial developmentFinancing programInterest subsidy fundIlocos regionCordillera administrativeManagement solutionsManila state owned development bank of the philippines dbp has granteda new php311 8 million term loan to local government unit lgu tuguegarao city bankroll public infrastructure and agriculture productivity enhancement projects in area