The Market Monitor Minding the Nation's Business
State-owned Development Bank of the Philippines (DBP) and the Bases Conversion Development Authority (BCDA) recently signed a memorandum of understanding (MOU) for a partnership in support of the infrastructure buildup targeted under the Duterte administration’s “Build, Build, Build” program.
Under the MOU, DBP will serve as BCDA’s financial advisor and funding arranger, assisting BCDA in evaluating and preparing projects for implementation.
DBP President and Chief Executive Officer Cecilia Borromeo believes the partnership is a positive step for DBP to fulfill the bank’s pivotal role as a key player in the government’s infrastructure development thrust.
“As we celebrate our 70th anniversary, we hope that our partnership can become one of the milestones that we can look back on as DBP moves forward with its mandate as the country’s prime infrastructure bank,” she said.
BCDA president and chief executive officer Vivencio B. Dizon, meanwhile, expressed optimism that the partnership with DBP, which he envisions to be broad and long-term, will lead BCDA from being a good to a great organization.
DBP chairman Alberto G. Romulo said the partnership will not be successful without the efforts of the able and competent teams of both BCDA and DBP led by two brilliant heads in Dizon and Borromeo.