STATE-RUN Development Bank of the Philippines (DBP) is prepared to provide the necessary financing to all establishments located near Manila Bay in support of the National Governments efforts to rehabilitate the area, a senior official said yesterday.
DBP president and chief executive officer Cecilia C. Borromeo said the banks loan programs on environment protection and its experience in bankrolling water treatment and sanitation projects would be beneficial to companies seeking to comply with existing environment rules and regulations.
DBP is ready to provide the necessary financial and technical assistance to all establishments near or along the coast of Manila Bay to ensure compliance to environmental laws and regulations, Borromeo said.
The Department of Environment and Natural Resources (DENR) recently spearheaded a massive clean-up of the 2,000 square kilometer Manila Bay, which has degraded over the years due to domestic sewage, toxic industrial effluents and leachate from dumps.
DBP recently joined the inauguration of the bank-funded Paranaque Sewerage Treatment Plant (STP) of the Maynilad Water Services, Inc. which is the pioneer large-scale Biological Nutrient Removal (BNR)-compliant wastewater treatment facility in the country. The plant uses Conventional Activated Sludge technology to remove pollutants from wastewater currently collected from about 100,000 Maynilad customers in Paranaque City before its discharge to the Malabon Creek, which eventually flows out to Manila Bay.
Borromeo said DBP will further coordinate with the DENR, the local government units, other government entities, and the private sector in finding a sustainable solution to improve water quality in Manila Bay.
DBP is prepared to do its share in this inter-sectoral initiative to clean up, rehabilitate, and improve the water quality of Manila Bay and its tributaries, Borromeo said.