DBP signs financing pact with key shelter agency
State-owned Development Bank of the Philippines (DBP) has signed a memorandum of agreement with the Social Housing Finance Corporation (SHFC) – a key shelter agency, to provide financing to qualified housing contractors and developers in order to expedite completion of socialized housing projects, a top official said. DBP president and chief executive officer Emmanuel Caraga INFOCUS
G. Herbosa said the DBP Credit Facility for SHFC Contractors and Developers will provide short-term loans to SHFCaccredited contractors and developers and advance payment for housing projects approved by SHFC for community associations participating under its Community Mortgage Program (CMP).
the country’s shelter production, especially for those who belong in the low-income bracket,” Herbosa said.
DBP is the fifth 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; “DBP sees this partnership environment; social with SHFC as a good services and community opportunity to better development. The carry-out our shared bank’s support to the goal of increasing country’s housing January 22-28, 2022 |
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