Bankero | Financial News > Main News > DBP grants P367.72-million credit assistance for Iloilo jeep modernization program

DBP grants P367.72-million credit assistance for Iloilo jeep modernization program

The Development Bank of the Philippines (DBP) has provided a P367.72-million credit assistance to the Metro Iloilo Transport Service Cooperative (MITS Coop) to acquire 148 modern Public Utility Jeepneys (PUJs) as part of the jeepney modernization program.

This will benefit 33,000 commuters in Iloilo City and creating employment opportunities, according to DBP President and CEO Michael O. de Jesus.

The loan falls under DBP’s Program Assistance to Support Alternative Driving Approaches (PASADA) and contributes to the bank’s commitment to stimulate the automobile industry and support the transportation sector’s development.

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DBP grants P367.72-million credit assistance for Iloilo jeep modernization program

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