Landbank, DBP ramp up lending as merger looms

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State-owned Land Bank of the Philippines and Development Bank of the Philippines are separately stepping up their lending activities ahead of a potential merger. | RonWDomingoINQ /PDI

Landbank has approved P113 billion in loans to local government units as of February, out of the P150-billion lending program for local development initiatives through the RISE UP LGUs .This lending program is meant to help ensure the resilient and sustainable recovery of local economies from the pandemic through financing for LGUs’ development projects.

The most recent is a P67-million loan to finance the digital infrastructure project of Quirino province, aimed at providing free Wi-Fi connectivity in schools and other public areas.

 

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