State-owned Development Bank of the Philippines (DBP) has been recognized by an international group of development financial institutions for its two programs designed to advance financial inclusion in the agriculture sector and to restore forest cover in the country, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said that the Bank was honored for its DBP Forest Program and its participation in the Department of Agriculture’s Agri-Puhunan at Pantawid (APP) Program during the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Awards program held in Muscat, Oman.
“These accolades further inspire us in the DBP and more importantly, affirm the Bank’s efforts to help realize President Ferdinand R. Marcos Jr.’s goals, particularly in the areas of food security, financial inclusion, and environmental protection,” de Jesus said.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
ADFIAP was founded in 1976 and serves as the focal point of all banks and other financial institutions engaged in development financing with 97 member-institutions in 42 countries in the Asia-Pacific region. Its annual awards program recognizes financial institutions that have contributed significantly to the sustainable development practices in their respective countries.
De Jesus said that the DBP Forest Program (DFP), which was conferred with a Merit Award under the Corporate Social Responsibility category, is the Bank’s CSR program for the environment, with over 50 projects spanning 6,386 hectares spread across the archipelago.
He said ADFIAP cited DBP’s Mindanao State University-Buug Forest Project, which involves the rehabilitation of a 100-hectare upland forest in Camp Salman, Tungawan, Zamboanga Sibugay and benefitted erstwhile members of the Moro Islamic Liberation Front.
“This project has helped improve the lives of former rebels by offering livelihood opportunities towards achieving peace and economic development in Mindanao,” de Jesus said.
De Jesus said the APP, which was conferred with a Merit Award for Financial Inclusion, is being undertaken in partnership with the Department of Agriculture (DA) and aims to improve rice productivity, ensure food security, and promote agricultural sustainability in the country.
He said the APP Program was launched by the DA in 2024 and provides a minimum of P60,000 credit assistance to farmer-beneficiaries through their cooperatives. The financial assistance is being credited through an Intervention Monitoring Card (IMC) for the purpose of financing their farming capital expenses, and providing cash advance for other labor expenses until the harvesting season.
“DBP assures that it will continue to work with its stakeholders in pushing for initiatives that will enhance the country’s resilience against climate change and enabling our countrymen, particularly our farmers, to enjoy greater access to financial tools and increase their productivity,” de Jesus said.
As of December 2024, a total of P127-million has been released to the cooperatives to support 1,588 farmers working in more than 2,000 hectares of land in Nueva Ecija, with DBP and DA seeking to expand the program to cover 1.3-million hectares in rice-producing provinces.
