State-owned Development Bank of the Philippines signed a P2-billion loan agreement with the local government of Kabankalan City to finance infrastructure projects to resolve persistent flooding in the area.
Development Bank of the Philippines president and chief executive Michael de Jesus said the bank approved three term loans under its Assistance for Economic and Social Development for LGUs Financing Program.
The package includes a 15-year term loan of P1.68 billion, a 10-year term loan of P318.7 million and a 5-year term loan of P1.3 million to cover climate adaptation and disaster resiliency engineering projects.
The initiative targets a decades-long flooding issue in Kabankalan City, which is largely attributed to the overflow of the Ilog-Hilabanga River. The river serves as a natural catch basin for the province during heavy rainfall and typhoons.
“DBP has been a stable and consistent partner of Kabankalan City, even before it was established as a city in 1997,” De Jesus said.
He said the bank has supported numerous projects creating economic opportunities and “this latest initiative further strengthens DBP’s fruitful relationship with the LGU.”
Kabankalan City is a first-class component city and the largest by land area in the province of Negros Occidental. With a population of more than 200,000, it serves as a primary rice producer and a key contributor to regional food security.
The DBP is the ninth largest bank in the country by assets. It focuses credit support on four priority sectors: infrastructure and logistics, micro, small and medium enterprises, the environment and social services.
De Jesus said the ASENSO program is designed to finance local initiatives that improve quality of life, including the rehabilitation of community facilities, water supply, healthcare centers and public markets. The bank plans to broaden its network of local government partners throughout 2026 to support long-term economic growth, he said.
“As of December 2025, DBP has approved P173.80 billion in loans to 456 projects under the ASENSO program, and we are eager to provide funding support to more LGUs for their high-impact projects that directly benefit our people,” De Jesus said.
