DBP backs small borrowers

State-run Development Bank of the Philippines (DBP) approved a P20-million clean revolving credit line to the ARDCI NGO Group to provide funds for relending to eligible sub-borrowers primarily for livelihood and other eligible projects.

Mirroring DBP’s objective of inclusive development, ARDCI was established as a non-government organization (NGO) in 1998 to provide financial services to the entrepreneurial poor engaged in micro-enterprises or small-scale industries.

Based in Virac, Catanduanes, ARDCI counts a membership of more than 200,000. It currently supports more than 94,000 borrowers by financing their livelihood and business projects.

By stimulating the growth and development of local businesses, ARDCI continues to generate employment opportunities in the areas covered by the NGO’s operations.

DBP’s assistance to the ARDCI NGO Group is in line with the bank’s thrust to maximize its lending reach to support sustainable projects that generate jobs and spur business activity, especially in the manufacturing industry.

At the signing of the loan deal between DBP and ARDCI are (seated from left) ARDCI CEO Victor Bernal, ARDCI president Rogelio Bitome, DBP executive vice president Benel Lagua and DBP first vice president Daniel Gonzales. (Standing from left) DBP...