STATE-owned Development Bank of the Philippines (DBP) provided P2.1 billion in funding support for two hydro-energy projects that aimed to augment power supply for the Luzon and the Visayas grids, a top official said.
DBP President and Chief Executive Officer Emmanuel Herbosa said the loans to Matuno River Development Corp. (MRDC) and Taft Hydro-energy Corp. (THEC), both majority-owned by Magis Energy Holdings Corp., were extended under the Financing Utilities for Sustainable Energy Development (Fused).
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