STATE-OWNED Development Bank of the Philippines (DBP) granted a P3-billion loan to the local government unit (LGU) of Mandaue City for the construction of its new Mandaue city hall, a top official said.

DBP President and Chief Executive Officer Michael de Jesus said the loan was granted under the bank's pioneering Assistance for Economic and Social Development (Asenso) for LGUs Financing Program and would be utilized for the establishment of the city's one-stop shop government center.

"DBP believes in the vision of the Mandaue City LGU of making it easier for all its constituents to transact with the government by building a new government center where all government offices and departments will be housed. This is in line with President Ferdinand Marcos Jr.'s goal to promote transparent and efficient public governance," de Jesus said.

DBP is the eighth-largest bank in the country in terms of assets and provides credit support to four priority sectors of the economy — infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

Mandaue is a first-class and highly urbanized city in Cebu province with a population of over 364,000, as of the latest government data. It is home to major manufacturing and export companies in the region.

De Jesus said the structure would be at least eight stories high with green building features on a 4.3-hectare property in downtown Mandaue City. It would house government frontline offices, satellite offices, as well as executive and legislative offices. It is one of the key projects this year under the Asenso for LGUs Financing Program.

"DBP is ready to work with more LGUs in their pursuit of various initiatives designed to accelerate infrastructure build-up and boost socioeconomic development in their respective localities," de Jesus said.

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