The Development Bank of the Philippines is open to providing the Negros Occidental and Silay City governments with P530 million in loans, DBP president Francisco del Rosario said yesterday.
DBP is also open to financing power, water, tourism, health and other infrastructure programs in Negros Occidental in keeping with its mandate for countryside development, del Rosario added.
Del Rosario, who along with other DBP officials joined Gov. Alfredo Marañon Jr. at the opening of the First Negros Food Fair, and Ranch and Animal Show at the Panaad Park and Stadium, said “We came here because we wanted to show our commitment to Negros Occidental, 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,” he said.
Marañon said DBP is one of the banks being eyed by the provincial government for availing of an about P400 million for the development of the Paglaum Sports Complex in Bacolod City.
The Land Bank of the Philippines and the Philippine National Bank have also expressed interest in providing loans to the provincial government, the governor added.
Silay Mayor Jose Montelibano said his city is applying for a P130 million loan from DBP for the concreting of the road leading to Barangay Patag, whose eco-tourism potentials he intends to develop.
Del Rosario said the food fair and ranch show that opened at the Panaad yesterday encourages entrepreneurship in Negros Occidental.
The DBP would also like to support the provincial government’s thrust towards producing free range organic natural food, which are better for the health, del Rosario added.
He also noted the potential of Negros Occidental to produce ethanol but said that until government resolves the tax issue on imported supply, it appears that producing alcohol instead of ethanol from molasses and cane is more commercially viable.*CPG