DBP extends loan to Isabela

The Development Bank of the Philippines (DBP) has extended a P335-million loan to the provincial government of Isabela to finance a corn integrated production, post harvest facilities, four district hospitals, medical equipment, and 96 units of school buildings.

DBP president and chief executive officer Simon R. Paterno said that Isabela is the first local government unit (LGU) to avail of the Sustainable Logistics Development Program (SLDP) grains highway project with the recent groundbreaking of a P115-million corn integrated production and post harvest facilities in Tumauini.

Paterno said the corn bulk handling facility promotes efficient application of modern farming technologies.

It also supports the objectives set in the SLDP to maximize benefits to farmers, ensure food availability to end-users, and to improve productivity and the quality of life of farmers.

"We hope this project will further encourage other LGUs and the private sector to invest in corn bulk handling so that in the long term, we become more competitive and will no longer have to import corn. Records show that we import corn at P4.5 billion annually," the government bank chief executive.

The corn integrated production and post-harvest facilities showcase a modern technique of farming that will increase the farmers‚ income by producing premium grade corn.

The project is complemented by four-wheel drive tractors that delivers the most efficient in land preparation.

Coupled with newly developed implements for tilling the soil, this results to a well-cultivated soil condition conducive to massive root growth of corn.

The system boasts of six units of Combine Harvester capable of harvesting the 1,500 hectares of corn land in 35 days or less for efficient harvesting. It also has a corn drying and bulk storage plant complete with facilities for storage.

In addition, satellite centers in the towns of San Manuel and in Cabagan will be established.

Each center will have an eight-ton dryer and two 300-ton silos.

Meanwhile, Isabela Governor Faustino Dy Jr. inaugurated four district hospitals and school projects financed by DBP in the amount of P120 million under the KfW-CMSME facility from Germany.

The hospitals are located in the municipalities of Cabagan, Echague, Roxas and Cauayan City.

The 75 bed hospitals rest on a floor area of 4,389 square meters and are equipped with various medical supplies.

The government financial institution also extended a P40-million loan for the acquisition of medical equipment.