The Land Bank of the Philippines has signed a memorandum of agreement (MOA) with the Department of Environment and Natural Resources (DENR) and the city of Manila for the “STP for Manila Bay,” a new credit program that will help protect and conserve Manila Bay.
The STP (Solutions in Terminating Pollution) for Manila Bay is a new credit facility designed to provide funding for the construction of waste water systems and facilities that is now expanded to accommodate not just water districts but also business entities, local government units (LGUs), and government owned and controlled corporations (GOCCs.)
“This credit program, the initiative of LandbANDBANK, will go a long way in helping us ensure that establishments are provided with the means to construct their own sewage treatment plants, because they’re given very good terms,” said DENR Undersecretary Juan Miguel Cuna.
In the same event, the Department of Interior and Local Government (DILG) and the Laguna Lake Development Authority (LLDA) signed up as new members of the Manila Bay SUNSET Partnership Program, Inc. (MBSPPI), an environmental and volunteerism movement with 28-member organizations from the public and private sector, including the academe.
DILG’s oversight of the LGUs will ensure active participation of the 178 LGUs surrounding Manila Bay, while LLDA’s expertise in management of water bodies will further capacitate MBSPPI.
The addition of the two new partners is expected to strengthen the partnership in protecting the bay, where thousands of small fishers from surrounding communities rely on for their livelihood and daily sustenance.