January 11

Development Bank of the Philippines Lends $13.4 Million to Agriculture Startup Project

State-run Development Bank of the Philippines (DBP) has lent P645 million  to a domestic agriculture enterprise to help improve its banana flour and coconut sugar manufacturing and export capabilities.

DBP president and chief executive officer Emmanuel Herbosa said the bank signed a loan agreement with Hijo Superfoods Inc. (HSI) to support its start-up unit, Project Honeycomb, and fund the establishment and expansion of its facilities.

This, Herbosa said, would help boost the company’s production of export products and provide continued livelihood to local farmers and suppliers.

Photo courtesy of Gideon.

Source: Philstar (link opens in a new window)

Agriculture, Investing
business development, impact investing, smallholder farmers, startups