State-owned Development Bank of the Philippines (DBP) has signed a P2-billion loan agreement with the Local Government of Kabankalan City to finance infrastructure projects aimed at resolving persistent flooding in the area, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the Bank approved three term loans to the city under its Assistance for Economic and Social Development (ASENSO) for LGUs Financing Program, which includes a 15-year term loan of P1.68 billion, a 10-year term loan of P318.7 million, and a 5-year term loan of P1.3 million, covering climate adaptation and disaster resiliency public works and engineering projects.
“DBP has been a stable and consistent partner of Kabankalan City, even before it was established as a city in 1997,” de Jesus said. The Bank has supported numerous projects that has created economic opportunities for Kabankalanons, adding: “…this latest initiative further strengthens DBP’s fruitful relationship with the LGU…”
DBP is the ninth largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
Kabankalan City is a first-class component city and the largest by land area in the province of Negros Occidental, with a population of more than 200,000. It is one of the primary rice producers in the province, marked by high agricultural production which contributes food security in the region.
Flooding has been a decades-long issue in Kabankalan City and has been largely attributed to the overflow of the Ilog-Hilabanga River, which serves as a natural catch basin of the province during occurrence of heavy rainfall and typhoons.
De Jesus said the ASENSO Program aims to finance various local development initiatives of LGUs that advance the quality of life of their constituents such as construction or rehabilitation of community facilities, water supply and sanitation facilities, healthcare facilities, and the development of public markets, among others.
He said for this year, DBP is eyeing to broaden its network of local government partners across the country by providing needed development financing to critical projects and initiatives that would support the long-term economic growth of the LGUs.
“As of December 2025, DBP has approved P173.80 billion in loans to 456 projects under the ASENSO program, and we are eager to provide funding support to more LGUs for their high-impact projects that directly benefit our people,” de Jesus said.