Skip to content
OurVote2022logo
mindanews-fact-check-logo-1
  • Business
  • Peace Process
  • Governance
  • Travel
  • Arts & Culture
  • Special Reports
  • Mindaviews
  • Pictures
Menu
  • Business
  • Peace Process
  • Governance
  • Travel
  • Arts & Culture
  • Special Reports
  • Mindaviews
  • Pictures

MinDA, DBP sign MOU on Mindanao projects

  • Antonio L. Colina IV

-

  • February 9, 2019
Share this story
MinDA chair Abul Khayr Alonto and DBP president Cecilia Borromeo during the signing of the MOU. MindaNews photo by ANTONIO L. COLINA IV

DAVAO CITY (MindaNews/9 February) – The Mindanao Development Authority (MinDA) forged Friday a memorandum of understanding with Development Bank of the Philippines (DBP) formalizing their partnership to expedite the flagship projects and programs for Mindanao under the 2017 to 2022 Philippine Development Plan.

The MOU was signed by MinDA chairman Abul Khayr Alonto and DBP President Cecilia Borromeo.

The DBP will serve as a “financial advisor” of MinDA to assist “in reviewing its proposals and plans, particularly in relation to commerciality and bankability of projects, and in developing a high-level strategy towards the structuring of identified projects primarily through private sector development.”

Alonto admitted they cannot miss the opportunity for Mindanao to move forward and grow as “time is ticking too fast” to fulfill the “promise of Mindanao” within the six-year term of the first Mindanawon President, Rodrigo R. Duterte.

“With DBP as our financial advisor, we are confident to have an ally when it comes to urgent funding support for projects that will improve Mindanao and create jobs particularly in the Bangsamoro areas to attain lasting peace through inclusive economic development,” he said.

He expressed confidence they can efficiently deliver results for the remaining half of Duterte’s six-year term with DBP, the government’s “infrastructure bank,” as their partner.

Borromeo added that aside from providing MinDA with technical assistance, the state-owned bank can also finance a portion of the projects that would be pursued by MinDA and other private sector partners.

“The primary role of Development Bank of the Philippines is an advisor to the Mindanao Development Authority. However, if there are participants in the projects that will be pursued by the MinDA that would need financing, then DBP the bank can finance a portion of those projects,” she said. 

The executive added that the top priority sectors of the DBP include infrastructure projects, transportation, social services including health and education, energy, water, and micro, small, and medium enterprises.

She added they will also support any project that “would protect the environment and make the communities more adaptive to the ravages of climate change like typhoons would be among our priority programs.”

MinDA executive director Romeo Montenegro said details of what projects they will push through under the MinDA-DBP partnership will still have to be threshed out in the technical discussions.

But he added it will include infrastructure projects i “that are otherwise in need of external (financing) other than those being funded by ODAs (official development assistance) or by GAA (General Appropriations Act).”

He said MinDA eyes to get support for its 12 catalytic programs of MinDA namely, the 2,135-km Trans-Mindanao High Speed Railway System (TMHSRS) worth P753.5 billion; Marawi rehabilitation for livelihood and business development, land resource management, and social services that would need P 16 billion; P42 billion for the establishment of Agro-Economic Zones in Zamboanga del Norte, Zamboanga del Sur, Zamboanga Sibugay, Agusan del Sur, Maguindanao, Lanao del Sur, and Basilan; and P15 billion for the Tawi-Tawi Integrated Development Project/Ecozone;

The P25 billion for Picong FreePort and Ecozone in Picong, Lanao del Sur; P39.2 billion for the Mindanao River Basin Integrated Flood Control Projects; P300 million for the proposed Mindanao Executive Leadership Academy in Maramag, Bukidnon; P75 billion for the MinDC Interregional Connectivity Projects comprising roads and bridges;

P100 million for Tourism Assistance Center in 20 strategic areas in Mindanao; P9.8 billion for New Zamboanga Airport in Mercedes, Zamboanga City; and P100 million for Polloc Freeport and Ecozone in Polloc, Maguindanao; and P9.8 billion for General Santos Aerotropolis that is still recommended for a feasibility study.

He added they plan to help out projects of the private sector, including renewable energy and agribusiness, particularly agro-processing. (Antonio L. Colina IV/MindaNews)

Your perspective matters! Leave a comment below and let us know what you think. We welcome diverse viewpoints and encourage respectful discussions. Don't hesitate to share your ideas or engage with others.
Advertisement
Rakrakan
Follow us on Facebook
Facebook
The MindaNews Podcast
-- ad here--

TOP STORIES

Marcos Jr., VP Duterte approval ratings fall two-digits

Mindanews October 2, 2023 6:24 pm

Skimboarding tilt back in Butuan in bid to reignite interest

Ivy Marie Mangadlao October 2, 2023 3:36 pm

Labor Arbiter orders release of P2.2-M cash bond for terminated Foodpanda riders

Antonio L. Colina IV October 1, 2023 3:50 pm

Western Mindanao’s geography makes it easy for human trafficking – Navy official

Frencie Carreon September 30, 2023 4:43 pm

Group wants Surigao cult leader jailed for safety of witnesses

Froilan Gallardo September 29, 2023 7:57 pm

MINDAVIEWS

TURNING POINT: A Bitter Taste

William R. Adan September 29, 2023 2:55 pm

TURNING POINT: Environmental Plunder

William R. Adan September 25, 2023 2:36 pm

KINURISKURIS: Ukay-ukay sa Uyanguren

Keith Bacongco September 24, 2023 6:05 pm
Read more MINDAVIEWS

BUSINESS NEWS

18 homegrown cafés joining Davao Coffee Crawl

Antonio L. Colina IV September 20, 2023 3:12 pm

25 delegates from Mindanao to join international expo in Sabah

Antonio L. Colina IV September 13, 2023 2:00 pm

Senator Villar cites EU’s GSP+ during tuna congress

Bong S. Sarmiento September 7, 2023 5:21 pm

Davao Region’s inflation rate lowest in Mindanao

Antonio L. Colina IV September 5, 2023 9:53 pm

Japanese firm looking for more suppliers of coconut-based food products

Mindanews August 31, 2023 2:35 pm

95 exhibitors to join Davao Agri Trade Expo

Antonio L. Colina IV August 23, 2023 5:48 pm

ARTS & CULTURE

KINURISKURIS: Long gone

Keith Bacongco October 1, 2023 8:28 pm

Sarangani writers showcase literary works in Philippine Book Festival

Genory Vanz Alfasain August 27, 2023 4:11 pm

INTERACTIVE MAP | Cagayan de Oro Higalaay Festival 2023

Yas D. Ocampo August 25, 2023 2:00 pm

Davao City Events | Palawud x Holodeck, Budots: The Craze

Mindanews August 19, 2023 10:10 am

Kadayawan Festival 2023 event guide

Yas D. Ocampo August 7, 2023 4:01 pm

The MindaNews Podcast: Aubrey DS and the creative pursuits that drive us

Mindanews July 10, 2023 7:06 pm

MindaNews is the news service arm of the Mindanao Institute of Journalism. It is composed of independent, professional journalists who believe and practice people empowerment through media.

23C Saturn St. GSIS Subdivision, Davao City Philippines Tel. No.: 082 297 4360 editor [at] mindanews.com
Facebook Twitter

© MindaNews 2016 -2023 | All Rights Reserved

About Us

Privacy Policy