Published May 21, 2021 12:33pm State-run lender Development Bank of the Philippines and the city government of Manila on Friday inked a P10-billion loan agreement to fund the city’s various public infrastructure projects. With a 15-year term, the loan deal will be used to bankroll the construction of school buildings in three districts and the establishment of a landmark housing project benefitting informal settlers and urban poor communities in Manila. In statement, DBP president and chief executive officer Emmanuel Herbosa said the the loan agreement was signed by Manila Mayor Francisco “Isko Moreno” Domagoso and himself. “DBP is honored to be a part of the ardent efforts of the City Government of Manila to scale up and ramp up social services to its residents,” Herbosa said.
May 21, 2021 STATE-RUN Development Bank of the Philippines (DBP) and the local government of Manila have signed a new P10-billion 15-year term loan agreement to fund various public infrastructure projects in the area under the city’s ambitious Development Plan, a top official said.
DBP President and Chief Executive Officer Emmanuel Herbosa said the bank’s assistance to the City Government would be used to bankroll the construction of school buildings in three districts and the establishment of a landmark housing project benefitting informal settlers and urban poor communities in Manila.
“DBP is honored to be a part of the ardent efforts of the City Government of Manila to scale up and ramp up social services to its residents,” Herbosa said during the loan signing ceremony on May 21 in Tondo, the birthplace and place of residence of incumbent Mayor Francisco “Isko Moreno” Domagoso.
DBP inksP10B loan infra deal with Manila LGU
Philippine Information Agency
21 May 2021, 18:38 GMT+10
CALOOCAN CITY, May 21 (PIA) State-run Development Bank of the Philippines (DBP) and the City Government of Manila today signed a new P10-billion, 15-year term loan agreement to fund various public infrastructure projects in the area under the city s ambitious Development Plan, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bank s assistance to the city government would be used to bankroll the construction of school buildings in three districts and the establishment of a landmark housing project benefitting informal settlers and urban poor communities in Manila.
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