State-owned Development Bank of the Philippines (DBP) is collaborating with local chief executives and the Department of Finance (DoF) in coming up with a package of financial assistance to help local government units (LGUs) bounce back from the crippling effects of the pandemic.
DBP President and Chief Executive Officer Emmanuel Herbosa said the package includes subsidies on interest payments on new loans to the LGUs as well as funding support to affected industries in their constituencies.
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