Motor banca program gets uplift from DOF

The Maritime Industry Authority’s motor banca upgrading campaign is getting a lift from the Department of Finance.

Marina is teaming up with the DOF to encourage the upgrading of wooden vessels into fiber-reinforced plastic boats.

Motor banca owners may avail of the municipal development fund (MDF) from the DOF’s Municipal Development Fund Office upon the discretion of their respective local government units.

Through the MDF, motor banca owners may have a more effective and reliable structure for their vessels that will be ready for the future implementation of Marina’s policy on modernizing the domestic shipping industry.

The MDF is intended to provide concessional fi- nancing assistance to LGUs with revenue-generating sub-projects and other infrastructure projects.

With the partnership, the local maritime industry will now be included in the disbursement of the fund.

The motor banca upgrading campaign is in line with Marina’s 10-year maritime industry development program that involves the modernization of domestic ships through strengthening the capability of local shipyards and fostering the construction of more Philippine-constructed ships.

“The full implementation of the upgrading of motor bancas can only be achieved through strong collaboration and support from national and local government units. This partnership with the DOF is a good start for us,” Marina domestic shipping service director Sonia Malaluan said.