The new charter of the DBP is enshrined in Senate Bill No.2804, authored by Villar and Senate President Chiz Escudero, and has undergone multiple consultative meetings, public hearings, and technical working group sessions, which Senator Mark, chairman of the Banks committee, sponsored on the Senate floor in the past week. Apart from his own amendments, Senator Mark also discussed and accepted various amendments from Senators Koko Pimentel and Joel Villanueva before having the bill approved on Second Reading".
Isinusulong po natin ang bagong Charter ng DBP upang mabigyan ang institusyon ng [We are pushing for the new DBP Charter to give the institution] additional capacity to deal with the increased demands for financial resources of different projects from vital sectors.
Some salient features of the new DBP’s Charter include: (1) increase in authorized capital stock; (2) issuance of shares to the general public; (3) designation of the Secretary of Finance as the ex-officio chairperson; and (4) the engagement in financial leasing in connection with government projects.
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