Reynaldo G. David, President and Chief Executive Officer (CEO) of the state-owned Development Bank of the Philippines (DBP), has commented on the DBP’s efforts to increase support for micro, small, and medium enterprises (MSMEs) through a wider “range of activities” [1,2].Mr. David has stated that, previously, the DBP only provided wholesale funds to cooperatives and rural banks [1]. Now, for example, the DBP has committed more than PHP 21 million, the equivalent of over USD 454,000, to the Credit Surety Fund (CSF) Program, a program established by the Central Bank of the Philippines (BSP) that aims to assist small entrepreneurs in increasing their creditworthiness and to assist rural banks and cooperatives in decreasing their credit risk [1,3,4]. The DBP also provides financial incentives for cooperatives and rural banks to participate in the program [1]. Mr. David has also stated that the DBP is able to provide training to cooperatives and rural banks in areas such as loan evaluation, loan processing, loan approval, accounting, and risk management [1].
By Christopher Maggio, Research Assistant
About:
Development Bank of the Philippines (DBP)
Description:
The Development Bank of the Philippines (DBP) is a state-owned development bank based in Makati City, Philippines. It provides loans to various types of borrowers such as cooperatives, private corporations, private financial institutions, local government units, and non-government organizations (NGOs). Through lending and training, it aims to support various sectors including manufacturing industries, utilities, health, education, agriculture, the environment, microfinance, and technological development.
The Development Bank of the Philippines (DBP) does not report to the MIX Market, the microfinance information clearinghouse.
Organization’s Website:
http://www.devbankphil.com.ph/
Contact Information:
Head Office:
Sen. Gil J. Puyat Avenue corner Makati Avenue
Makati City, Philippines
Mailing Address:
P.O. Box 1996 Makati Central Post Office
1200 Makati City, Philippines
Phone:
+63 2 818 9511
E-mail:
info@devbankphil.com.ph
Additional Resources:
MicroCapital’s Microfinance Universe profile: DBP
Bibliography
[1] Philippine Information Agency article entitled ‘DBP reiterates support to coops, rural banks’: http://www.pia.gov.ph/default.asp?m=12&fi=p091228.htm&no=21
[2] Development Bank of the Philippines: http://www.devbankphil.com.ph/
[3] Credit Surety Fund (CSF) Program: http://entrebankph.com/credit-surety-fund-program-a-solution-to-creditworthiness-problem-of-smes/
[4] Central Bank of the Philippines: http://www.bsp.gov.ph/
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