State-owned Development Bank of the Philippines signed a P3.5 billion peso term loan facility with Camarines Sur to accelerate infrastructure and social services in the Bicol region’s most populous province.
The financing, part of the lender’s ASENSO for LGUs program, will fund 112 projects including hospitals, schools, and agricultural facilities, DBP president and Chief Executive Officer Michael O. de Jesus said in a statement.
The move signals the bank’s continued push to decentralize credit and support the national government’s Philippine Development Plan.
“DBP takes pride in assisting projects that will improve lives—from strengthening infrastructure to expanding access to essential social services,” De Jesus said.
The loan provides a capital infusion to a first-class province of more than 2 million people, where the economy remains tethered to tourism and agriculture.
DBP, the nation’s ninth-largest bank by assets, had already approved P165 billion in loans to over 450 local government borrowers as of late 2025.
As of late 2025, the ASENSO program had approved more than P165 billion in loans to 451 borrowers.
De Jesus said the bank is eyeing further partnerships with other LGUs to maintain local development momentum.
