State-owned Development Bank of the Philippines (DBP) will ramp up its lending activities for social services that cover health care, education, housing and community development this year, a top official said.
DBP President and COO Cecilia C. Borromeo said the bank is gearing up to support more initiatives that will enhance the delivery of basic social services across the archipelago.
“We’re looking to build more schools and hospitals this year,” Borromeo said. “This is part of our continuing commitment to support government’s efforts to improve social services to our citizens, especially in the countryside.”
DBP is the eighth-largest bank in the country, with assets totaling P557.84 billion as of end-third quarter of 2017. At least 16 percent, or about P33 billion of the bank’s portfolio, is devoted to social services.
Borromeo said there is still a lot of development work to be done, especially in the regions, adding: “Development institutions like us have a lot of areas to cover and this includes encouraging and supporting the local leadership in their plans for their constituencies.”