STATE-OWNED Development Bank of the Philippines (DBP) has launched a special credit facility focusing on coconut farmers in support of the national government's efforts to strengthen the development of the coconut industry, one of the major segments of the local agriculture sector, a top official said.

DBP President and CEO Michael de Jesus said the Coconut Farmers and Industry Development Credit (CFID) program aims to provide financing to support projects related to the coconut value chain focusing on capacity expansion, farm integration, and enterprise diversification to increase farm production and income of coconut farmers.