First loan under Mindanao Water Program nears signing

Development Bank of the Philippines (DBP) is providing a PHP100 million ($1.98 million) loan to the Minicipality of Taraka under the Mindanao Water Program. The loan, scheduled for signing on March 21, is for the construction of six solar-powered irrigation systems and a potable water supply system

The Mindanao Water Program, launched December 6 last year, is a joint project of Mindanao Development Authority, DBP and the Department of Interior and Local Government.