Philippine Bank to open new ro-ro routes

Manila: State-owned Development Bank of the Philippines is to launch four new roll-on, roll-off shipping routes in the Visayas area, south of Manila. The bank also plans to promote the development of 20 missionary (not very commercial) routes though liberalised credit terms for investment. The routes, to be opened this year which would complete the government's Strong Republic Nautical Highway project. DBP plans to offer an intially lower 7% interest rate on vessels used on these routes, which would rise after the first two years.

The four routes are as follows:

Liloan, Cebu to Jetafe, Bohol

Dumanjug, Cebu-Guihulngan to Negros Oriental

Santander, Cebu-Sibulan to Negros Oriental

Santander-Larena to Siquijor.  [03/04/07]