The state-owned Development Bank of the Philippines (DBP) has received international recognition from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) for two programs advancing agricultural financial inclusion and forest restoration.
DBP President and CEO Michael O. de Jesus announced the bank was honored for its DBP Forest Program and participation in the Department of Agriculture’s Agri-Puhunan at Pantawid (APP) Program during the ADFIAP Awards in Muscat, Oman.
“These accolades further inspire us in the DBP and more importantly, affirm the Bank’s efforts to help realize President Ferdinand R. Marcos Jr.’s goals, particularly in the areas of food security, financial inclusion, and environmental protection,” de Jesus said.
Forest Program earns Merit Award
The DBP Forest Program received a Merit Award under the Corporate Social Responsibility category. The bank’s environmental CSR program encompasses over 50 projects spanning 6,386 hectares nationwide.
ADFIAP specifically cited DBP’s Mindanao State University-Buug Forest Project, rehabilitating 100 hectares of upland forest in Camp Salman, Tungawan, Zamboanga Sibugay, benefiting former Moro Islamic Liberation Front members.
“This project has helped improve the lives of former rebels by offering livelihood opportunities towards achieving peace and economic development in Mindanao,” de Jesus said.
APP Program receives Financial Inclusion Recognition
The APP Program earned a Merit Award for Financial Inclusion. Launched by the Department of Agriculture in 2024, the program provides minimum P60,000 credit assistance to farmer-beneficiaries through cooperatives via Intervention Monitoring Cards (IMC) for farming capital and labor expenses.
“DBP assures that it will continue to work with its stakeholders in pushing for initiatives that will enhance the country’s resilience against climate change and enabling our countrymen, particularly our farmers, to enjoy greater access to financial tools and increase their productivity,” de Jesus said.
As of December 2024, P127 million has been released to cooperatives supporting 1,588 farmers working over 2,000 hectares in Nueva Ecija. DBP and DA plan to expand the program to cover 1.3 million hectares in rice-producing provinces.
About DBP and ADFIAP
DBP ranks as the country’s 10th largest bank by assets, providing credit support to infrastructure and logistics, micro/small/medium enterprises, environment, and social services sectors.
ADFIAP, founded in 1976, serves as the focal point for development financing institutions with 97 member-institutions across 42 Asia-Pacific countries. Its annual awards recognize financial institutions contributing significantly to sustainable development practices.
