In his speech during the awarding ceremony of the first Development Bank of the Philippine (DBP) Interisland Race dubbed as the Ready, Set, RORO!, DBP president and chief executive officer Raynaldo G. David said the efficient transport system will mean cheaper goods for consumers as there will be less spoilage and faster merchandise turn over.
"With the ro-ro, and via the nautical highways, we are looking at the reduction of travel time not only of people and goods, but in resulting decrease in the cost of commodities," David said.
Not only that, David stressed that the ro-ro is an adventurous, affordable and fun way of exploring the islands.
David explained that the notion that ro-ro is inconvenient way to travel must be corrected.
"It is not true that ro-ro lacks facilities and infrastructure," David lamented.
According to David, the interisland race has proven that the nautical highway is already developed and that the ships are safe and equipped with the necessary facilities.
"I hope our (interisland race) participants will be the bearer of good news, that we need not spend much to be able to experience Boracay, Mindoro, Iloilo, and Mindanao," David said.
He noted that the promotion of trade, travel and tourism via the nautical highways is one of the three major thrusts of the bank’s sustainable logistics development program (SLDP).
The bank has released P1.956 billion to fund its Road Roll-On Roll-Off Terminal System (RRTS).
"For the domestic shipping modernization program, we have around P2 billion involving 13 projects that are waiting to be drawn," David said.
David said the bank is pushing for more developments in the ro-ro routes as it stretched the loan term.
The financial rates are kind of low. Its 7.5 percent for the missionary routes and 8.5 percent for the commercial, David said.
DBP has likewise relaxed the repayment term and lengthened the grace period of borrowers.
Other projects under the bank’s SLDP are the cold chain project wherein DBP has set aside P1.517 billion for its cold chain project. As of September, the bank has approved 39 projects for processing and marketing centers, aggregating centers, reefer transport equipment, ice plant and other cold storage facilities.
The grains highway meanwhile received P1.549 billion for 152 projects including processing centers with mechanical shelling, drying and storing inbulk, bulk tracking, terminal facilites and bulk carriers.