Wednesday June 25, 2003
More term funds for Small and Medium Enterprises
Planters Development Bank signed a P500 million financing agreement with Citibank, N.A. The facility will fund medium to long-term lending to Plantersbank’s primary market the small and medium-scale enterprise (SME) sector.
Shown at the signing of this agreement are: Plantersbank chairman and CEO Ambassador Jesus P. Tambunting (3rd from left) and Citigroup country officer James F. Hunt (2nd from left) with Plantersbank president and COO Maria Flordelis Aguenza (left) and Raissa Hechanova-Posadas (right), Citigroup vice president and head of corporate finance.
Plantersbank, the country’s largest private development bank, counts among its shareholders prestigious global institutions such as the World Bank’s International Finance Corporation, Asian Development Bank and the Netherlands Development Finance Company.