The state-owned Development Bank of the Philippines (DBP) has been recognized by an international group of development financial institutions for its initiatives in advancing financial inclusion in the agriculture sector and restoring forest cover, 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 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 — infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
Founded in 1976, ADFIAP is composed of 97 member-institutions in 42 countries in the Asia-Pacific region and serves as the focal point of banks and financial institutions engaged in development financing. Its annual awards recognize financial institutions that contribute significantly to sustainable development in their respective countries.
De Jesus said that the DBP Forest Program (DFP), which received a Merit Award under the Corporate Social Responsibility category, is the Bank’s CSR program for the environment, with over 50 projects covering 6,386 hectares nationwide.
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 received a Merit Award for Financial Inclusion, is being implemented in partnership with the Department of Agriculture and aims to improve rice productivity, ensure food security, and promote agricultural sustainability.
He said the APP Program, launched by the DA in 2024, provides a minimum of ₱60,000 credit assistance to farmer-beneficiaries through their cooperatives. The assistance is disbursed via an Intervention Monitoring Card (IMC) to cover farming capital expenses and provide cash advance for labor costs until harvest.
“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 ₱127 million has been released to cooperatives supporting 1,588 farmers across more than 2,000 hectares in Nueva Ecija. DBP and the DA are working to expand the program to cover 1.3 million hectares in major rice-producing provinces.