DBP approves P2.3-billion loan for Bataan Harbor City Project

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THE Development Bank of the Philippines (DBP) recently approved a P2.3-billion loan for a project of the Bataan Harbor City (BHC) in Pilar, Bataan.

The credit assistance extended to real estate company Diamond Land Resources Inc., which is owned by New San Jose Builders Inc., serves as initial funding for the first phase of the project.

According to DBP Executive Vice President for Development Lending Paul Lazaro, their financing will focus on horizontal development that includes industrial parks, residential, leisure, and tourism components.

It is expected that the financial assistance will provide great help in the economic development of the Municipality of Pilar, a third-class municipality currently being led by Mayor Carlos “Charlie” Pizarro, Jr. with a population of over 46,000 residents and tagged as the center of tourism and cultural history in Luzon.

Bilang economic zone, nakikita namin ang inisyatiba na ito bilang isang pangunahing tool sa pagsulong ng pamumuhunan na nagpapataas ng mga aktibidad sa negosyo, ekonomiya at paggastos sa lugar, habang nagbibigay ng karagdagang kita sa lokal na pamahalaan sa anyo ng mga buwis, permit, at bayad sa lisensya (as an economic zone, we see this initiative as a primary tool to help push investment that will help increase business, economic and investment activities in the area, while giving additional revenue to the local government in the form of taxes, permits and payments for issuance of licenses),” adds Lazaro.

It is also expected that the project will provide local employment to not less than 300 people every year, and thus strengthen economic activities in the province.

The BHC project was planned to become a self-sustained community and is a master-planned development composed of a 75.5-hectare industrial estate with a nearby port facility and consolidated real-estate development composed of leisure, tourism, commercial and residential residential spaces.

In an interview, DBP President and Chief Executive Officer Emmanuel Herbosa emphasized the possible positive effects of the establishment of a new economic zone in the province.

Kami sa DBP ay naniniwala na ang Bataan Harbour City ay maghahatid sa isang bagong panahon ng kaunlaran sa lalawigan dahil sa potensyal nito na tumulong sa pag-akit ng mga dayuhang pamumuhunan, lumikha ng mga oportunidad sa ekonomiya, at lumikha ng mga trabaho para sa mas maraming Pilipino (we at the DBP believe that the Bataan Harbor City project will bring about a new era in development in the province because of its potential to help attract foreign investment, create economic opportunities, and create jobs for more Filipinos),” dagdag pa ng DBP official.

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