DBP allots P270M for building project in Tarlac

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THE Provincial Government of Tarlac [PGT] and the Development Bank of the Philippines [DBP] forged a partnership to construct a multi-storey Investment Property Building.

The partnership is also seen to develop the Macabulos drive.

DBP agreed to finance the construction of the building amounting to P270 million through a soft loan payable in 10 years inclusive of a two-year grace period. The principal is payable in 96 equal monthly amortization to commence at the end of the 25th month from the date of initial drawdown.

The building will have a total of seven floors and a basement parking area. The ground and second floors will be utilized as commercial areas, third to fifth floors will house government offices and the function rooms will be constructed at the roof deck.

Former Senator and Foreign Affairs Secretary now DBP Chairman Alberto Romulo who was present during the agreement signing said that the partnership between the Provincial Government and the DBP will go a long way.

“As a Tarlaqueño, I am proud of what Tarlac has achieved under the tutelage of the Yaps…from Aping to Vic now to Governor Susan. DBP is more than willing to partner with the provincial government of Tarlac,” he said.

Romulo is a native of Camiling town and is the son of renowned international diplomat and war hero Carlos P. Romulo.

Gov. Susan Yap thanked the DBP leadership for the investment partnership.

“My heartfelt thanks to Mr. Romulo and the DBP family for this partnership. The building that will be constructed will be of great value to Tarlac,” Yap said.

The governor likewise said that her administration’s aspiration is inclusive growth and sustainable development.

“Our aspiration of inclusive growth and sustainable development is experienced in the different areas of Tarlac province through the implementation of various development programs and services of in-depth analysis, studies and consultations,” she noted.

Signatories to the partnership are Yap, Provincial Administrator Roberto Ventura, DBP Bulacan Lending Center Head Regin Soliman and DBP’s Carla Taguines.

Others present during the partnership signing were Board Members Harmes Sembrano, Enrico de Leon, Antonio Cervantes Jr. and Jude Joseph David, DBP President and Chief Executive Officer Cecilia Borromeo, DBP-Tarlac branch officials and capitol department heads.