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MANILA, Philippines – State-owned Development Bank of the Philippines (DBP) has extended a credit facility to a Quezon-based rural bank to boost lending to farmers and fisherfolk.
In a statement on Friday, DBP said it approved a P100-million loan for Bayanihan Bank Inc. under its Agriculture, Fisheries, and Rural Development (AFRD) Credit Facility.
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The funds will be relent to the rural bank’s clients in the agriculture and fisheries sector for working capital, equipment upgrades, and facility improvements.
