DBP ramps up support to Cavite

MANILA, Philippines — Development Bank of the Philippines (DBP) is bolstering its development initiatives in Cavite to meet the burgeoning demand for lending programs, deposit products and cash services from both the public and private sector in the province, a top official said yesterday.

DBP president and chief executive officer Cecilia Borromeo said the bank has partnered with the city government of Bacoor in Cavite for the distribution of 1,900 prepaid cards to the local government’s job order workers to facilitate payment of their salaries.

Borromeo said DBP also granted a P25-million loan to a husband and wife entrepreneur to finance the construction of a three-story commercial building along the main thoroughfare in the Bacoor and Imus areas that will house shopping centers, restaurants, school supplies stores, arcade centers, and a sky garden and bar.

“DBP shall continue working with LGUs not just in Cavite to provide effective and responsive solutions, programs and services that would further spur the growth of provinces nationwide,” she said.