State-owned Development Bank of the Philippines is looking to strengthen its lending support to poultry contract growers through its partnership with the local subsidiary of an international agro-industrial and food conglomerate, a top official said.
“DBP is keen on funding more local poultry contract growers in line with its commitment to promote homegrown agricultural enterprises, and consequently spur economic activities in the countryside and buttress the National Government’s food security efforts,” Herbosa said. DBP is the sixth 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.
Under the MOA, CPFPC will endorse its existing and potential contract growers to DBP for possible funding support while DBP will evaluate and approve loan applications of qualified poultry contract growers for farm acquisition, development, rehabilitation and other pre-operating expenses.
Source: Loan Digest (loandigest.net)
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