by Manila Bulletin
State-owned
Development Bank of the Philippines (DBP) announced that it is stepping up its efforts to protect the environment with the Tree Plantation Financing Program (TPFP), a credit assistance program that seeks to support the expansion, harvesting, maintenance, and protection of existing
tree plantations.
DBP President & Chief Executive Officer Francisco F. Del Rosario, Jr. said an initial P2-billion has been allocated to promote the development and maintenance of
tree plantations, help communities improve their socio-economic conditions, and arrest the
rapid deforestation in the country.
Del Rosario said existing tree plantations with at least 4-year-old standing trees in at least 1% of the plantation area of qualified private and public land are eligible for financing. Projects may include the acquisition and planting of major tree planting stocks, site devel¬opment, maintenance and operating expenses, water system and other related expenditures for expansion of an existing plantation.
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