State-run Development Bank of the Philippines (DBP) has disbursed a P180-million loan to support the construction of a new slaughterhouse in Iloilo City.
DBP president and CEO Michael O. de Jesus underscored the significance of the funding in assisting Iloilo City’s ongoing efforts to strengthen livestock production and meet the growing demand.
The modern slaughterhouse is anticipated to achieve export-grade classification, boasting a processing capacity exceeding 500 swine heads daily.
Affirming DBP’s enduring partnership with the local government of Iloilo City, De Jesus emphasized that the initiative aimed to enhance food safety and security while fostering economic opportunities in the region.
The financing for the project falls under DBP’s Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program.
The P180-million loan is part of the larger P2.13-billion financing extended to Iloilo City through the ASENSO program. This broader financial support facilitated crucial public service enhancements, including market rehabilitation, hospital construction, medical equipment acquisition, parking building construction, and acquisition of relocation sites for informal settlers, as reported by DBP.
Under the ASENSO Program, DBP has disbursed a total of P26.3 billion in loans, benefiting 362 Local Government Unit (LGU) borrowers. The cumulative loan approval across various initiatives reached P91.7 billion.
