Press Release - Senator Mark Villar hears charter amendments on the Development Bank of the Philippines, focuses on benefits to farmers and fisherfolk

Senator Mark Villar, Chairperson of the Committee on Banks, Financial Institutions, and Currencies successfully led the public hearing on the proposed amendment to the Charter of the Development Bank of the Philippines.

"Today, we are here to discuss this bill amending the DBP Charter yet again because we see the imminent need to address the continuously evolving dynamic of the development sector. Upang matugunan ang mga pangangailangan ng ating kapwa Pilipino, kailangan na ang ating mga batas, and even the DBP itself, is imbued with the proper provisions that will address the need of each and every contemporary Filipino," Senator Villar said.

The senator focused on questioning whether or not there are specific programs allocated for farmers, fisherfolk, and the MSME sector in the loan portfolio allocation of DBP. He further asked how these sectors would be considered and factored in the proposed amendments of the Charter.

"Isinusulong natin ang bagong Charter ng DBP upang mabigyan ang institusyon ng sapat na kakayahan na makapagbigay ng resources sa ordinaryong mamamayan, lalong-lalo na para sa mga magsasaka, mangingisda, at mga Micro, Small, and Medium Enterprises o MSMEs. Kailangan po na magkaroon tayo ng mga streamlined programs at refined credit assistance dahil malaki po ang kontribusyon ng mga sektor na ito sa development ng ating bansa-- which is the very mandate of the DBP," Senator Mark highlighted.

Senator Mark also asked the resource persons from the DBP about the assistance provided by the institution during the recent typhoon, emphasizing the gravity of its effect on multiple sectors.

"The growth of the crucial sectors is a function of capital. Kailangan na mayroon po tayong dedicated program para sa kanila. If there is one thing we learned from the recent typhoon, is that we should also have calamity assistance for our farmers and fisherfolks. Kailangan po na mabigyan natin sila ng tulong dahil sa matinding apekto ng mga bagyo at iba pang kalamidad sa kanilang mga hanapbuhay," Senator Mark said.

After the conclusion of the public hearing, Senator Mark moved to forward the discussion of the proposed charter to a technical working group. Thereafter,