DBP inks MinDA, DA-PRDP socio-economic dev’t accord

State-run Development Bank of the Philippines (DBP) is ramping up support for Mindanao through new partnerships aimed at boosting agricultural productivity, infrastructure, and broader socio-economic development in the region.

In a statement, DBP said it signed agreements with the Mindanao Development Authority (MinDA), as well as a tripartite deal with MinDA and the Department of Agriculture–Philippine Rural Development Project (DA-PRDP), to roll out key initiatives across priority sectors.

Deepen engagement with local stakeholders

DBP president and CEO Michael O. de Jesus said the collaboration is expected to deepen the bank’s engagement with local stakeholders and expand economic opportunities.

“The collaborative undertakings with MinDA and DA–PRDP are expected to strengthen DBP’s relationships with local government units in Mindanao and boost its support to initiatives that can generate economic activities in the communities and improve the lives of millions of ordinary Filipinos,” he said.

Under the partnership, DBP will provide financing to qualified borrowers, including local government units, MSMEs, cooperatives and social enterprises, with a focus on projects that drive inclusive growth.

Priority areas

Priority areas include climate-resilient infrastructure, renewable energy, water and sanitation systems, healthcare and education facilities, and agri-industrial developments, reflecting the bank’s broader mandate to support key sectors of the economy.

Meanwhile, the tripartite agreement assigns complementary roles to each agency. The DA-PRDP will provide technical assistance and endorse agriculture and fisheries projects, while MinDA will facilitate coordination and institutional support to ensure effective implementation.