State-owned Development Bank of the Philippines (DBP) has partnered with the Small Business Corporation (SB Corp.) for the establishment of a strategic client referral and management system to efficiently manage the assistance programs for micro, small and medium enterprises (MSMEs) of the two institutions, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bank’s memorandum of understanding (MOU) with SB Corp. would significantly enhance the implementation of the DBP RESPONSE to accelerate MSME Recovery (MSME RECOVERY) program, and SB Corp.’s Covid19 Assistance to Restart Enterprises (CARES) program.
“This partnership between two government financial institutions is a testament to the National Government’s unified efforts to hasten recovery of the MSME sector, which remain as the backbone of our local economy,” Herbosa said.
DBP is the sixth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.
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