STATE-owned Development Bank of the Philippines (DBP) has granted a P29.44-million assistance to a Public Utility Vehicle (PUV) Modernization Program in South Luzon.
In a statement on Thursday, DBP President and Chief Executive Officer Emmanuel Herbosa said the initiative was made possible by the agency’s Support Alternative Driving Approaches (Pasada) Financing Program, which offers responsive and reasonable financing for transport corporations and cooperatives to allow them to acquire new, environment-friendly and passenger-safe PUVs.
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