DBP willing to lend Negros Occidental P530 M

BACOLOD CITY, Philippines—The Development Bank of the Philippines is open to providing the province of Negros Occidental and Silay City with P530 million in loans for development projects.

DBP president Francisco del Rosario said the bank was willing to finance power, water, tourism, health and other infrastructure programs in Negros Occidental in keeping with its mandate for countryside development.

Del Rosario and some DBP officials joined Governor Alfredo Marañon Jr. at the opening of the First Negros Food Fair, and Ranch and Animal Show at the Panaad Park and Stadium on Friday.

“We came here because we wanted to show our commitment to Negros Occidental,” he said. “We know that there is a lot of potential here. A lot of projects are in the pipeline.

“As far as Negros Occidental is concerned, I’m optimistic because I know that the people are all working together. I can see unity among different mayors and officials, and development plans that are rational and long term.”

Marañon said DBP was one of the banks being eyed by the provincial government for a loan of about P400 million for the redevelopment of the Paglaum Sports Complex in Bacolod City.

The Land Bank of the Philippines and the Philippine National Bank have expressed interest in providing loans to the provincial government, the governor added.

Silay Mayor Jose Montelibano said his city was also applying for a loan of P130 million from DBP for the concreting of the road leading to Barangay Patag, whose eco-tourism potentials he intends to develop.