DBP lends P2B to Alcantara group for Mindanao projects
This bank is betting big on the agricultural sector.
The Development Bank of the Philippines (DBP) extended a P2-billion omnibus loan facility to the Alcantara Group of Companies, which is the mother firm of Alsons Aquaculture Corporation (AAC), Sarangani Agricultural Co., Inc., Sarangani Cattle Co., Inc., Finfish Hatcheries, Inc., and Alsons Development and Investment Corporation.
The omnibus loan will support capital requirements of these business ventures, all geared towards farm output exports. DBP President Cecilia Borromeo said she also expects these loans to provide 1,000 new jobs to locals.
Alcantara Group president Tomas Alcantara said the credit line will be used for the company’s projects in Sarangani province and other initiatives in Mindanao.