The state-owned Development Bank of the Philippines (DBP) approved a P3-billion loan to the government of Mandaue City in Cebu for the construction of an integrated city hall.

“DBP believes in the vision of the Mandaue City government of making it easier for its constituents to transact with the government by building a new government center where all government offices and departments will be housed,” DBP President Michael de Jesus said.

The new Mandaue City Hall will rise on a 4.3-hectare lot and house both executive and legislative offices. It will also feature environment-friendly facilities and equipment.

ASENSO for LGUs

De Jesus said the loan to the local government unit is part of DBP’s ASENSO for LGUs Financing Program which helps complete infrastructure projects, purchase equipment and implement sustainable practices in delivering public service.

As an infrastructure-centric bank, De Jesus said DBP has approved ASENSO loans amounting to P108.2 billion as of the end of January.

Of these approved loans, P33 billion has been released for a total of 378 projects.

“DBP is ready to work with more LGUs in their pursuit of various initiatives designed to accelerate infrastructure build-up and boost socio-economic development in their respective localities,” De Jesus said.