DBP forms multi-sector governance council

Development Bank of the Philippines (DBP) Chairman and President & CEO, Mr. Jose A. Nunez and Mr. Gil A. Buenaventura, respectively, led multi-sector governance council members in an oath taking ceremony at the DBP Development Forum held recently at the Bank headquarters. DBP convened the Forum to engage its management committee and branch heads from all over the country in discussions about good governance practices and the organization’s plans for 2015. In line with its vision to be a “regionally recognized development financial institution serving as a catalyst for a progressive and prosperous Philippines”, the group also discussed different ways that it could provide better service for the development sector. One initiative was to expand the access to loans for local government units, water districts, and electric cooperatives. Whereas most private banks will rate all organizations using a unified scale regardless of sector, DBP developed its own scale, the “Internal Credit Risk Rating System” which prioritizes development sector organizations. The multi-sector governance council, a citizen advisory board on good governance initiatives, is composed of prominent figures in the finance and development world, namely, Mr. Francis Estrada, Institute for Solidarity in Asia Fellow, Mr. Octavio B. Peralta, Secretary General of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), Hon. Oscar Moreno, President of the League of City Mayors and Hon. Ferdinand Abesamis, Mayor of Peñaranda City. For more information on DBP’s governance program, please visit https://www.devbnkphl.com/.

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