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MANILA, Philippines — State-owned Development Bank of the Philippines (DBP) will use government natural hazard data to evaluate loans and investments, include disaster risk assessments into its credit and financing decisions.
In a statement on Friday, DBP said it signed an agreement with the Philippine Institute of Volcanology and Seismology (Phivolcs), which will provide the bank free access to GeoRiskPH, a science-based platform offering real-time hazard information and risk analysis.
READ: DBP braces for rise in bad loans from flood mess fallout
DBP will also use HazardHunterPH Pro to identify whether specific locations face seismic, volcanic or hydrometeorological hazards. The tools will help the bank assess risks to loan collateral, investments, acquired assets, branches and other facilities, strengthening credit evaluations and financing decisions.
