Home » Maritime » DBP approves P536M loans for cold chain

THE Development Bank of the Philippines (DBP) has approved loans amounting to P536 million to fund cold chain facilities under the Sustainable Logistics Development Plan (SLDP).

In the recently concluded 3rd Quarter Cold Chain Association of the Philippines (CCAP) Roundtable Discussion, DBP assistant vice president Fausto V. Aragones said 17 private companies have availed of the loan. There are also 13 projects in the pipeline amounting to P459 million while prospects amount to P25 million.

The DBP has allotted the biggest funding for the development of cold chain facilities under the SLDP. Of the P30 billion initially earmarked to finance investments in SLDP projects, including the Road Roll-on/Roll-off (ro-ro) Terminal System (RRTS) and the Bulk Grains Highway, P16 billion will go to the cold chain.

The RRTS and the Grains Highway were allotted P7.5 billion and P6.5 billion, respectively.

Aragones said the cold chain plays the biggest role in preservation of perishables while in transit. “It is in the cold chain sector where the biggest losses are,” he said, noting approximately P30 billion are lost annually in waste and spoilage of fruits and vegetables.

“Through the SLDP, we will be able to replace traditional and inefficient storage, handling, transport and support systems with modern storage, handling and transport system under proper quality control management,” he noted.

Under the program, the bank aims to establish 16 cold chain processing and marketing centers, along with 12 grains processing centers and the serial building of 96 vessels and roro ferry ports.

Aragones said the development of cold chain facilities will maximize benefits to farmers, ensure availability of products and improve trade. – Maritess R. Mesias

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