Alvarez wants DBP to disclose P5B loan beneficiaries

RG Cruz, ABS-CBN News

Posted at May 17 2017 06:11 AM

MANILA - House Speaker Pantaleon Alvarez has asked the Development Bank of the Philippines (DBP) to account for beneficiaries of a P5-billion loan under the previous administration in 2015 which he said appeared to be given undue privileges to the detriment of the bank.

Speaking at a hearing of the House Committee on Banks, Alvarez said, "Kaya pinapa-submit ko sila ng listahan kung sino ang mga borrowers na iyun. It looks like talagang privileged borrowers, they have to bend the policies of the bank just to accommodate the loan. "

Alvarez said there seemed to be 3 alleged "privileged borrowers". 

"Alam mo siyempre, limited yung capital ng bangko, tapos para magpahiram ka ng ganun kalaki doon sa mga privileged borrowers, 3 lang ito. It involves I think the same corporation, same ownership kaya tignan natin 'yun kung ito ba nakakabayad ng loan. These are government money na pinapautang ng DBP. Tingnan natin kung 'di ba nawawala ang pera," he said.

Alvarez said the companies are in energy and mass housing, based on a Commission on Audit report.

"Nabasa ko lang 'yung report ng COA," he said. "I was alarmed, sabi ko these are huge amounts of money and kailangan matignan natin kung secured pa ba yung pera ng gobyerno."