Philippines: DBP’s new partneship with stakeholders to support aspiring ‘agripreneurs’

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State-owned Development Bank of the Philippines (DBP) has partnered with the Department of Agriculture (DA) and a leading fintech firm to provide accessible financing to aspiring entrepreneurs in the farming sector.

“For implementing the Kapital Access for Young Agripreneurs (KAYA) loan program of the DA, DBP would serve as a settlement bank to the lending conduits of the Agricultural Credit Policy Council and PayMaya Philippines, Inc,” DBP President Emmanuel G. Herbosa said.

To recall, DBP is one of the largest banks in the country in terms of assets and provides credit support to the strategic sectors of the economy.

As of end-March, the lender has disbursed over P371-billion in loans to various borrowers.