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Artemio Dumlao - The Philippine Star
February 1, 2026 | 12:00am
DBP president and chief executive officer Michael de Jesus said the bank is open to a partnership with the city government to build a modern market complex.
Businessworld / File
BAGUIO CITY, Philippines — The Development Bank of the Philippines (DBP) has expressed willingness to finance the development of Baguio City’s public market after a private firm pulled out of the project amid strong opposition from stakeholders.
DBP president and chief executive officer Michael de Jesus said the bank is open to a partnership with the city government to build a modern market complex.
De Jesus said the initiative fits the bank’s mandate to spur local economic growth, modernize public infrastructure, and support micro, small and medium enterprises.
He said that funding may be extended through DBP’s Assistance for Economic and Social Development Program for local governments.
As of Nov. 30, 2025, DBP has approved more than P165 billion in loans for local government projects covering education, health services, transport, disaster mitigation and public safety.
