DBP to bankroll Camarines Norte’s pioneer waste management facility

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    Labo Municipal Mayor Joseph Ascutia and DBP Assistant Vice President Ariel B. Peña (second and third from left, respectively) seal the P100-million loan agreement for the construction of Camarines Norte Province’s first Sanitary Landfill Facility. Witnessing the signing of the agreement are Municipal Vice Mayor Dindo Pardo (standing 5th from left) together with Municipal Administrator Severino Francisco, Jr. (seated left), DBP Account Officer Helen Jacinto (seated right), and members of the Sangguniang Bayan of the Municipality of Labo.
    Labo Municipal Mayor Joseph Ascutia and DBP Assistant Vice President Ariel B. Peña (second and third from left, respectively) seal the P100-million loan agreement for the construction of Camarines Norte Province’s first Sanitary Landfill Facility. Witnessing the signing of the agreement are Municipal Vice Mayor Dindo Pardo (standing 5th from left) together with Municipal Administrator Severino Francisco, Jr. (seated left), DBP Account Officer Helen Jacinto (seated right), and members of the Sangguniang Bayan of the Municipality of Labo.

    State-owned Development Bank of the Philippines (DBP) signed a loan agreement with the Municipality of Labo for the construction of Camarines Norte’s first sanitary landfill facility (SLF), a top official said.

    DBP President and Chief Executive Officer Emmanuel G. Herbosa said that the bank’s P100-million term loan support covers the acquisition of a 10-hectare project site, SLF construction, and acquisition of various equipment needed for the maintenance of the facility.

    “With this development partnership, we will be able to implement projects that are geared towards environmental protection and sustainable development,” Herbosa said.“This is in line with our mandate to integrate environmental considerations in every aspect of our operations and services.”

    DBP is the eighth largest bank in the country with assets totaling P700.9-billion as of end September 2019.It provides loans to critical sectors of the economy such as infrastructure and logistics, small and medium enterprises, social services and community development, and the environment.