DBP President and Chief Executive Officer Michael O. de Jesus (second from left) is shown during the loan agreement signing with the Puerto Princesa City Water District. (PPCWD) Also in the photo are (from left): DBP Senior Vice President Daniel Gonzales, PPCWD Chairman Atty. Peter Winston Gonzales, and PPCWD General Manager Walter Laurel. (Contributing Photo)
CALAPAN CITY, Oriental Mindoro (PIA) — The Development Bank of the Philippines (DBP) granted P375 million to Puerto Princesa City Water District (PPCWD) to improve its water service delivery to the city residents.
DBP president and chief executive officer Michael de Jesus announced the loan on Friday, October 13, stating that the financing was extended to PPCWD as an initiative of the Water for Every Resident (WATER) program, which aims to increase the proportion of households with access to potable water.
“DBP is proud to be partnering with the PPCWD in another initiative designed to contribute to the provision of safe, reliable, and affordable water supply and help achieve inclusive growth, particularly in Puerto Princesa City,” he said.
De Jesus said the loan will be used by the PPCWD to construct a reservoir with a capacity of 3,000 cubic meters and an ultraviolet disinfection system that is an important component of its water treatment infrastructure.
He added that the loan to PPCWD would also help to fund the construction of a transmission line that would serve crucial barangays in anticipation of increasing economic activity due to the strengthening of critical utilities and essential public services.
“This worthy undertaking with PPCWD is an integral component of the WATER Program, which has already provided a total of P25.5-billion for 94 borrowers as of end of August this year,” de Jesus said. (GATS/PIA MIMAROPA)
