The Development Bank of the Philippines (DBP) approved PHP39.5 billion in loans during the first half of 2021, under its flagship credit programme, which aims to address financial shortfalls in the country’s infrastructure development. DBP financed 440 borrowers between January and June 2021 under the Infrastructure Contractors Support (Icons) initiative, which was first introduced in 2017.
This programme provides direct funding to building contractors for a variety of infrastructure projects, including transportation, water supply, wastewater and sanitation, communications, social, power, and energy. In the first half of 2021, the Icons programme financed 151 projects in Luzon, 134 in the Visayas, and 145 in Mindanao.
