STATE-OWNED Development Bank of the Philippines has approved a P300-million loan to finance the city government of Ormoc's site and land development in support of the flagship national shelter program of President Ferdinand Marcos Jr., a top official 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.Ormoc City is a first-class independent component city with an estimated population of more than 230,000. It is widely regarded as the agro-commercial, industrial and tourism hub of Eastern Visayas.
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