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MANILA - State-owned Development Bank of the Philippines (DBP) has granted a PHP700-million loan to the local government of Naga City in the province of Camarines Sur to fast-track its various public infrastructure and social development projects in the area, a top official said. DBP president and chief executive officer Emmanuel Herbosa said the amount will be utilized for the construction of the three-storey Level 1 New Naga City Hospital, as well as for the acquisition of lots for the city's socialized housing projects, road concreting, and other urban redevelopment projects. "DBP supports these developmental initiatives for Naga City as it boosts the city's income-generating capacity while expanding its role as a center of trade and commerce in the Bicol region," Herbosa said. DBP is the fifth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy - infrastructure and logistics; micro, small and medium e

Bicol peninsulaPhilippines generalCamarines surNaga cityEmmanuel herbosaDevelopment for local government units financing programDevelopment bankNaga city hospitalSocial developmentLocal government units financing programNew naga city hospitalManila state owned development bank of the philippines dbp has granteda php700 million loan to local government naga city in province camarines sur fast track its various public infrastructure and social projects areaA top official said dbp president and chief executive officer emmanuel herbosa the amount will be utilized for construction of three storey level 1 new naga city hospitalS well as for the acquisition of lots city 39s socialized housing projectsRoad concretingNd other urban redevelopment projects quot dbp supports these developmental initiatives for naga city as it boosts the 39s income generating capacity while expanding its role asa center of trade and commerce in bicol region