State-owned Development Bank of the Philippines (DBP) seeks to boost the National Government’s efforts to support the local aquaculture industry through its latest partnership with the local subsidiary of a leading agro-industrial and food conglomerate, a top official said.
DBP President and Chief Executive Officer Michael de Jesus said the Bank’s partnership with Charoen Pokphand Foods Philippines Corporation (CP Foods) is expected to enhance the implementation of DBP’s latest financing facility, the Aquaculture Value Chain Financing Program (AVCFP).
“This new tie-up further strengthens our longstanding partnership with CP Foods and cements our continuing commitment to help ensure food security and productivity in the country,” de Jesus said.
DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy — infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.
CP Foods is a subsidiary of the Thailand-based Charoen Pokphand Foods Public Company Limited (CPFPC) which operates vertically integrated agro-industrial and food businesses harnessing its investments and partnerships in 17 countries worldwide.
