Issue of March 11, 2018

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Gov’t banks steps up lending for infrastructure projects
by Hanna C. Lacsamana

DEVELOPMENT PARTNER -- Development Bank of the Philippines Chairman Alberto Romulo (left), President and Chief Executive Officer Cecilia Borromeo and Director Rogelio Garcia with Baguio Mayor Mauricio Domogan, Benguet Gov. Crescencio Pacalso, and Tuba Mayor Ignacio Rivera led the ribbon cutting for the inauguration of the DBP Baguio Branch at Lower Session Road in Baguio on March 8. DBP has assured it will boost its lending activities in the city and Benguet province. -- Redjie Melvic Cawis

Aside from its commitment to give the best banking experience to its growing clientele, the Baguio branch of the Development Bank of the Philippines is boosting its lending activities as it urged more stakeholders to make DBP as their development partner.

In the inauguration of its five-story state-of-the-art branch office building at the city’s central business district on Thursday, President Cecilia C. Borromeo invited the public as well as local government units to choose DBP as their banking partner, with their mission to expand access by all Filipinos to banking institutions and services, and in particular Baguio and Benguet as its host city and province, in furtherance of its goals of social balance and equity that ensure access to funding and broad financial inclusion.

The DBP targets to have one million depositors by 2022 through its deposit generation campaign and help in the government’s goal to reduce poverty incidence in the country to 14 percent by supporting infrastructure projects providing social and basic services.

Part of the new building is a lending center for Benguet at its third floor, which offers a full menu of lending programs for various clients aside from its regular savings and electronic banking services.

“We would like to lend to more investors to develop this province and this city,” Borromeo said, adding that DBP has stepped up its efforts in investing in projects that have the immediate and the biggest impact to improving people’s lives to fulfill its development mandate.

With a total of P3.9 billion in deposits, she said the challenge for them is to plow back that amount into loans.

Loans from the Baguio branch lending center are at P1.5B. “This means that some of your money is being used by DBP to develop other cities or towns,” she said.

She said their priority is to lend to investors for social services like hospitals, schools, and infrastructure that make the quality of life of citizens more convenient, like water and electricity distribution.

DBP Chair Alberto Romulo said Pres. Rodrigo Duterte has made DBP the infrastructure arm of the government under its “build, build, build” program.

“It’s through infrastructure that we will provide jobs, livelihood, and the income of the people all over the country, so that with these programs centered on infrastructure, then ultimately our dream is that by 2022 we will have reduced the poverty incidence that has never been attained before,” Romulo said.

Rep. Mark Go, Benguet Gov. Cresencio Pacalso, City Mayor Mauricio Domogan, Tuba Mayor Ignacio Rivera, regional agency executives, and representatives of other public and private institutions in Baguio and Benguet witnessed the building’s blessing.

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Baguio Country Club
Department of Tourism – CAR
University of Baguio
Venus Parkview Hotel

Congressman Mark O. Go
Department of Health – CAR
Kings College of the Philippines
Lepanto Consolidated Mining Company
Mayor Mauricio G. Domogan
Narda’s Handwoven Arts & Crafts Inc.
Philex Mining Corporation
Pines City Colleges
Province of Benguet
Sangguniang Panlungsod
SM City Baguio
Social Security System

Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Central University
Baguio Heart and Lung Diagnostic Center Inc.
Baguio Memorial Chapels Incorporated
Baguio Water District
Bureau of Fisheries and Aquatic Resources – CAR
C & Triple A Supermart
Congressman Ronald M. Cosalan
Curamed Pharmacy
Data Center College of the Philippines of Baguio City Inc.
Department of Agriculture – CAR
Department of Environment and Natural Resources – CAR
Department of Trade and Industry – CAR
Department of Transportation – CAR
Easter College Incorporated
Fabulo Beauty and Image Salon
Fast East Pacific Commercial
Filipino–Japanese Friendship Association of Northern Luzon, Inc.
GMS Technology
Immigration Network Services, Inc.
La Funeraria Paz, Inc.
Mayor Romeo K. Salda
MMS Development Training Center Corporation
Mother Earth Deli Basket
National Economic & Development Authority–CAR
Overseas Workers Welfare Administration
Philippine Science High School – CARC
R.A. Gapuz Review Center
Regional Tripartite Wages and Productivity Board – CAR
Solibao – Ganza Restaurant
Technical Education and Skills Development Authority

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