(PAGASA 24-HOUR PUBLIC WEATHER FORECAST as of Wednesday, 04 October 2023) At 3:00 AM today, the center of the eye of Typhoon "JENNY" {KOINU} was estimated based on all available data at 275 km East Northeast of Itbayat, Batanes (21.9°N, 124.2°E) with maximum sustained winds of 150 km/h near the center and gustiness of up to 185 km/h. It is moving West Northwestward at 10 km/h. Southwest Monsoon affecting Central Luzon, Southern Luzon, and Visayas. Butuan City, Agusan del Norte, Agusan del Sur, Dinagat Islands, Surigao del Norte and Surigao del Sur will experience Partly cloudy to cloudy skies with isolated rainshowers or thunderstorms due to Southwest Monsoon / Localized Thunderstorms. Possible flash floods or landslides during severe thunderstorms. Light to moderate winds coming from South to Southwest will prevail with slight to moderate seas (0.6 to 2.5 meters).

Friday, 3 March 2023

DBP to expand programs in support of PDP

State-owned Development Bank of the Philippines (DBP) is prepared to work with the National Government to broaden financing to pivotal industries identified under the Philippine Development Plan (PDP) which serves as the country’s economic development roadmap, a top official said.  

DBP President and Chief Executive Officer Michael O. de Jesus said the Bank expresses its full support to the government’s push for “servicification,” which targets high-growth industries such as information and communications technology, creatives, tourism, and logistics including technology start-ups that could spur employment generation. 

“DBP is one with the National Government in filling the financing gap especially for emerging and so-called sunrise industries that are heavily anchored on innovation and technology,” de Jesus said. “DBP is in a prime position to support the goals outlined in the PDP.” 

DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises (MSMEs); the environment; and social services and community development. It is one of the oldest financial institutions in the country and was established primarily to fund post-war recovery and rehabilitation efforts. 

De Jesus said DBP could also provide the needed credit support for the digitalization and innovation programs of private firms and businesses as well as local government units as part of their efforts to expand markets and scale up in the global value chain. 

He said DBP’s developmental mindset and vast experience in bankrolling pioneering high-impact projects in areas such as infrastructure, tourism, transportation, logistics, and health care could serve as a template for engagement to strengthen operational resilience and financial muscle of these industries amidst a changing socio-economic landscape.  

“In fact, the recent ratification of the Regional Comprehensive Economic Partnership makes it imperative for Philippine firms and businesses to enhance its competitiveness, to which DBP can readily provide its resources towards that end,” de Jesus said. (DBP/PIA Caraga)