DBP lends P150 million to modern PUV maker : vimarsana.com

DBP lends P150 million to modern PUV maker
Mary Grace Padin
© STAR/ File
DBP lends P150 million to modern PUV maker
MANILA, Philippines — State-run Development Bank of the Philippines (DBP) has provided a P150 million loan to Hino Motors Philippines Corp. to support its production and distribution of modern public utility vehicles (PUVs).
In a statement, DBP president and chief executive officer Emmanuel Herbosa said the loan would augment  HMPC’s working capital requirements in the manufacture of commercial vehicles, such as PUVs, trucks and buses.
This, he said, would help HMPC address the increasing demand for modern PUVs nationwide, especially with the surge of approvals under the DBP’s Program Assistance to Support Alternative Driving Approaches (PASADA).

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