The state-owned Development Bank of the Philippines (DBP) has signed a P2-billion loan agreement with the Kabankalan city government in Negros Occidental to finance infrastructure projects aimed at addressing persistent flooding in the area, a top official said.
DBP President and Chief Executive Officer Michael de Jesus said the Bank approved three term loans to the city under its Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program. These include a 15-year term loan worth P1.68 billion, a 10-year term loan of P318.7 million, and a 5-year term loan of P1.3 million, covering climate adaptation and disaster resiliency public works and engineering projects.
“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 noted that the bank has supported numerous projects that created economic opportunities for Kabankalanons, adding that the latest initiative further strengthens DBP’s fruitful relationship with the LGU.
DBP is the ninth-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.
Kabankalan City is a first-class component city and the largest by land area in Negros Occidental, with a population of more than 200,000. It is one of the province’s primary rice producers, marked by high agricultural output that contributes to food security in the region.
Flooding has been a decades-long issue in Kabankalan, largely attributed to the overflow of the Ilog-Hilabangan River, which serves as a natural catch basin during heavy rainfall and typhoons.
De Jesus said the ASENSO Program aims to finance various local development initiatives of LGUs that improve the quality of life of their constituents, such as the construction or rehabilitation of community facilities, water supply and sanitation systems, healthcare facilities, and the development of public markets.
He added that for 2026, DBP is eyeing to broaden its network of local government partners nationwide by providing development financing for critical projects and initiatives that support long-term economic growth.
“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 in a statement. ||
