DBP okays P9.59-billion loan for sustainable logistics program

SIARGAO, Surigao del Norte, Philippines — The Development Bank of the Philippines (DBP) has approved a total of P9.59 billion worth of project financing under the Sustainable Logistics Development Program (SLDP). 

The SLDP, the project development flagship of DBP, includes the cold chain and grains highway projects. Other participating government financial institutions in the SLDP are the Land Bank of the Philippines (LBP), the SB Corp. and the Philippine Export and Import Credit Agency (PhilExim).

DBP president and chief executive officer Reynaldo G. David said another 41 projects amounting to P5.86 billion are in the pipeline.

The cold chain and grains highway project is complemented by the roll-on, roll-off (Ro-Ro) development routes principally funded by DBP.

Of the 20 new or missionary Ro-Ro routes identified by DBP, nine have been made operational through its financing. Most notable of these is a new route connecting the town of Pasacao in Camarines Sur to the provinces of Masbate and Romblon. The route, which will be made operational this month, will connect Romblon to the Pan-Philippine Highway.

Likewise, DBP is working on the acquisition of a Ro-Ro vessel that will ply the Calbayog, Northern Samar — Kawayan, Biliran route. 

“Travel time to Cebu City from Calbayog will be reduced by more than two hours with the new route,” David said.

Other pipeline projects under the SLDP include shipyards in Gen. Santos City and Cebu capable of handling vessel with capacities of 5,000 deadweight tons (DWT) and 2,500 DWT vessels, respectively, for a total project cost of P380 million. These shipyards will boost the local shipping industry’s capacity to construct and repair vessels. – Ted Torres