The Development Bank of the Philippines (DBP) has disbursed a P180-million loan to the Iloilo Local Government Unit (LGU) to enhance the city’s food safety and security measures.
Bankero, DBP President and CEO Michael O. de Jesus stated that the funding aims to support IloIlo City in strengthening livestock production to meet growing demand.
The loan will specifically fund the construction of a modern, fully-mechanized slaughterhouse, projected to achieve export-grade classification with the capacity to process over 500 swine heads daily.
This initiative, part of the Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program, reinforces DBP’s commitment to Iloilo’s economic development.
The P180-million loan contributes to the P2.13-billion financing granted to Iloilo City under the ASENSO program. DBP, as the 9th largest commercial bank and the second-largest government bank in the Philippines, continues its proactive collaboration with LGUs nationwide to accelerate infrastructure and socio-economic projects.
The bank has disbursed a total of P26.3 billion in loans under the ASENSO Program, benefiting 362 LGU borrowers, with a total loan approval reaching P91.7 billion.
Iloilo City, a first-class highly urbanized city in the Western Visayas region, serves as a pivotal hub for trade and commerce with a population of approximately 490,000.
DBP, boasting P962.886 billion in assets, aligns its mandate to provide strategic financing support to critical economic sectors, including infrastructure, logistics, micro, small and medium enterprises, social services, and the environment.
