MANILA, Philippines - State-owned Development Bank of the Philippines (DBP) has launched a P1-billion loan facility to support the funding requirements of public and private enterprises for projects that promote public safety and security and effective deterrence of crime and violence.
The Financing for Public Safety Initiatives (FPSI) facility aims to promote the mainstream use of security-related technology and devices for crime deterrence, detection and punishment, early warning and emergency response especially in government and private business establishments.
The facility also aims to strengthen the capacity of local government units (LGUs) in promoting and ensuring public safety and augmenting police visibility.
It likewise aims to improve community preparedness through the use of security-related devices and technologies.
DBP said the facility also encourages integration and inter-linkages of public safety systems of government with private sector users for better response to emergencies and crime incidence, improvement of database and reporting mechanisms, and will contribute to further IT-based public safety strategies.
Moreso, the FPSI will fund the purchase and installation of security systems and devices, operation and maintenance requirements of security systems, and the training of security personnel on the use of security systems and devices.
The facility will also finance security system integration and improvement projects for public and private establishments including Public-Private Partnership (PPP) security projects, system integration projects with law enforcement and other public safety agencies such as disaster coordinating agencies, the Bureau of Fire Protection and medical units, and the construction and development of public safety centers or monitoring centers.