Home      Contact Us
www.devbnkphl.com
Login to
 

     Development Financing        Products and Services        Press Room      PGS   About DBP      Opportunities 
  DBP supports pioneering agricultural hub in Bulacan
June 28, 2011

DBP has extended a Php 536.3-million loan to Southeast Asian Commodities and Food Exchange, Inc. (SACFEI) for the development of the first phase of the North Food Exchange (NFEx), a special economic zone in Balagtas, Bulacan that is being eyed to become the distribution hub of northern Luzon.

DBP president & chief executive officer Francisco F. Del Rosario, Jr, said the NFEx will be the country’s first agricultural depot where farmers, fishermen and entrepreneurs can directly sell their produce to end-users, effectively blocking middlemen participation and translating to at least 40% reduction in cost of goods.

He added that the project is in support of the Aquino administration’s efforts to establish more agricultural trading centers that will eliminate middleman transactions and opportunities for corruption while improving the economic conditions of farmers and fishermen and making basic food affordable to the general public.

NFEx will sit on a 5.2 hectare lot with 969 stalls for agro products, fishery products, poultry and livestock, groceries, processed foods, specialty products, food ingredients, fast food and commercial establishments. It will also feature grains terminals, cold storage, warehouses, slaughterhouses, produce and wet markets, transportation, and recreational support facilities.

The NFEx is also foreseen to benefit from the interconnection of major infrastructure by 2014 such as the Balagtas NLEX interchange, NLEX service road, North Rail from Monumento to Clark, and MRT 7 from San Jose Del Monte, Bulacan to Quezon City. The NFEx took off from a nine-year extensive research on successful cooperatives, agrofood exchanges and distribution models from China, Korea, Thailand and Vietnam.

DBP executive vice president Jesus Guevara II shakes hands with Southeast Asian Commodities Management chairman Josefina Dela Cruz after the loan agreement signing for the North Food Exchange project. Also in photo are (from left) Foundation for People Development president Rene Gayo, DBP senior vice president Cresenciana Bundoc, Southeast Asian Commodities and Food Exchange, Inc. (SACFEI) president Fidel Bugayong, Dr. Pilar De Ocampo, and Atty. Jose Villamor of SACFEI.

 
NEWS UPDATES
 

DBP supports tourism project in Vigan
August 26, 2015

DBP solidifies support for local dairy industry
August 18, 2015

IGLF lends P3.3-billion to SMEs in 2014
August 07, 2015

IGLF wins outstanding CSF partner award
July 29, 2015

DBP registers 19% profit growth to P2.349-billion in 1st half of 2015
July 22, 2015

Statement of DBP Board and Management on Charges about Bonuses
July 16, 2015

DBP Wins Award for Sustainable Project Financing
June 26, 2015

DBP signs agreement for integrated core banking project
June 25, 2015

DBP Clarifies Recent News Articles on Losses and Securities Trading
June 08, 2015

DBP Explains Capital Management Measures
May 28, 2015

 
NEWS ARCHIVES
 
 
2010 All Rights Reserved Development Bank of the Philippines