The Development Bank of the Philippines (DBP) has approved a loan of PHP2 billion to the provincial government of Palawan to finance key public infrastructure projects, including the upgradation of the local road network.
The loan was extended under DBP’s Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program. Of the total, around PHP1.4 billion will be allocated to upgrade 76 km of gravel roads into two-lane concrete roads. Meanwhile, the remaining PHP0.6 billion will be used for the construction and rehabilitation of various flood control projects.