The Market Monitor Minding the Nation's Business
State-owned Development Bank of the Philippines (DBP) has signed a ₱2-billion loan agreement with the Local Government of Kabankalan City to fund major infrastructure projects aimed at addressing long-standing flooding problems in the area.
DBP President and CEO Michael O. de Jesus said the financing was approved under the bank’s Assistance for Economic and Social Development (ASENSO) Program for Local Government Units.
The package consists of three term loans: a 15-year loan worth ₱1.68 billion, a 10-year loan amounting to ₱318.7 million, and a 5-year loan of ₱1.3 million. These will support climate adaptation, disaster resilience, and key public works projects in Kabankalan City.
De Jesus emphasized the bank’s long-standing partnership with the local government, noting DBP’s continued support for development projects even before Kabankalan’s cityhood in 1997.
“DBP has been a stable and consistent partner of Kabankalan City,” he said, adding that the latest financing strengthens the institution’s commitment to local development.
Kabankalan City, a first-class component city in Negros Occidental, is the largest in land area in the province and home to more than 200,000 residents. It is also a major agricultural hub, particularly for rice production.
However, the city has long struggled with flooding, largely due to the overflow of the Ilog-Hilabangan River during heavy rains and typhoons.
The ASENSO Program supports LGU projects such as water systems, healthcare facilities, sanitation, public markets, and other infrastructure that improve local living conditions.
DBP said it aims to expand its LGU financing portfolio further in 2026, as it continues to support high-impact development projects nationwide.
As of end-2025, the bank has approved ₱173.8 billion in loans for 456 ASENSO-funded projects across the country.