The Local Government of Roxas, Palawan entered into a Term Loan Agreement with the Development Bank of the Philippines (DBP) that will pave way for the implementation of some of the municipality’s priority projects.
Roxas Mayor Pedy Sabando said that the agreement signing was made earlier today, April 23 at the town’s municipal hall.
He said that among his administration’s priority projects that require DBP’s support include the procurement of light and heavy agricultural equipment to will help the local farmers to boost agricultural production.
“Layunin ng nasabing kasunduan na magbigay ng suportang pinansyal para sa mga prayoridad na proyekto ng bayan, kabilang ang pagbili ng mga bagong kagamitan tulad ng light, heavy, at agricultural equipment, gayundin ang pagpapaunlad ng Roxas People’s Park. Inaasahang higit nitong mapapalakas ang kakayahan ng pamahalaang lokal sa paghahatid ng mas episyente at dekalidad na serbisyo publiko, pati na rin ang pagpapaigting ng imprastruktura at pagsusulong ng pangmatagalang kaunlaran,” Mayor Sabando announced.
Present during the signing were Mayor Sabando, Vice Mayor Alfredo B. Enojas Jr., Sangguniang Bayan members, department heads of the LGU, among others. On the other hand, representing the DBP were Edward R. Mansion, Senior Assistant Vice President and Concurrent OIC of South Luzon Lending Group, and the OIC of DBP Puerto Princesa Lending Group, Ms. Alysa Valdemoro.
The DBP is the premier government-owned financing institution mandated to provide banking services that support sustainable economic growth, primarily catering to the medium- and long-term needs of agricultural and industrial enterprises, small and medium-scale industries, and infrastructure development.
Based on Executive Order No. 81 (1986) and Republic Act No. 8523, DBP serves as a policy bank that: provides development financing: focuses on agriculture, industry, and the government sector. The DBP said that it support priority sectors as they focused heavily on infrastructure and logistics, environmental protection, social services, and micro small and medium enterprises as it promotes sustainable growth and act as a catalyst for economic growth, especially in the countryside.
“Ang makasaysayang kasunduang ito ay patunay ng patuloy na pagtutulungan ng LGU Roxas at ng mga institusyong pinansyal upang maisakatuparan ang mga programang magdudulot ng tunay at inklusibong pag-unlad para sa buong komunidad,” LGU Roxas said in a statement.