The Development Bank of the Philippines is encouraging local officials and businessmen in the Visayas to become its partner in pursuing their various development programs.

During the "roadshow held at the L'Fisher Hotel Thursday, Reynaldo David, president and chief executive officer, said in a press release the bank has lending facilities to support projects in infrastructure and logistics, social services, micro, small and medium enterprises, environment, and commercial lending.

DBP has already supported development projects amounting to P9.7 billion in the Visayas region, but they want to do more, he said

. "We want to do more. With the economy on the ascent, it is very clear that the time is now for all of us stakeholders to seriously get our acts together," David said, adding that DBP is more than ready to do its role by providing the technical and financial assistance to interested investors. He also said that DBP is liberalizing its financing facilities under its flagship initiative Sustainable Logistics Development Program to help improve the competitiveness of the fishing industry and other related businesses.

The bank has also dropped its interest rates to seven percent per annum for the first two years for SLDP projects such as cold storage facilities, refrigerated transport and related handling equipment, and other temperature-controlled facilities and equipment.

The SLDP is an investment financing facility for a comprehensive transport and related infrastructure and support services.

The program involves projects for the RORO terminal system, Grains Highway, and the Cold Chain Highway and aims to reduce the cost of transport and commodities, and promote more efficient and effective handling and storage of foods.

DBP also allocated an initial amount of P2 billion to support the modernization of the fishing industry, David said.

David also traced the history of the bank, from its initial function as the Agriculture and Industrial Bank of the Industrial Bank of pre-World War II days, to the Rehabilitation Finance Corporation after the war, and eventually to the Development Bank of the Philippines.

During the road show that was attended by about 200 farmers, businessmen, local government officials, industrialists and other sectors, David also signed memorandums of understanding with Kabankalan Mayor Pedro Zayco for a road network project, and with the Bacolod City Water District in connection with its loan with the Local Water Utilities Administration.*

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