De Jesus

De Jesus Drives DBP’s Dynamic Growth Strategy‍

The Development Bank of the Philippines (DBP), a government-owned financial institution established in 1947, plays a crucial role in fostering national industrial growth. Unlike commercial banks, DBP operates with a developmental focus, providing financial solutions that drive economic progress, sustainable development, and financial inclusion. Under the leadership of Michael O. de Jesus, DBP has expanded its role in infrastructure financing, renewable energy investments, and financial inclusion, reinforcing its mission to support the Philippines’ long-term economic growth.‍

A Leader with a Strong Vision‍

Michael O. de Jesus brings over 37 years of experience in the financial industry. His leadership is shaped by both local and international exposure. He studied at Ateneo de Manila University before completing his college education in the United States. His banking career began at Citibank Manila, where he was recognized as a high-potential talent. He later pursued an MBA at the Wharton School of the University of Pennsylvania, further refining his expertise in financial management. After completing his MBA, he worked at Citibank New York, gaining corporate banking experience before taking on senior roles in leading Philippine banks. His strong people skills, extensive corporate banking experience, and deep commitment to transparency and ethical governance have made him an effective leader in steering DBP’s growth strategy.

‍Advancing Infrastructure Development and Economic Growth‍

Under de Jesus’s leadership, DBP has played a critical role in financing infrastructure projects that align with the Philippine government’s economic development goals. Notable projects include the Tarlac-Pangasinan-La Union Expressway, the Cebu City-Cordova Toll Bridge, and the Mactan Cebu International Airport Expansion, all of which have significantly contributed to regional and national connectivity. Additionally, DBP allocated PHP 2 billion in funding for the Provincial Government of Palawan to support vital public infrastructure projects, including upgrading the province’s road network and enhancing disaster risk reduction initiatives. These projects reflect DBP’s commitment to driving national development through strategic financial support.‍

Championing Renewable Energy and Sustainability‍

De Jesus has positioned DBP as a leader in green financing, expanding its efforts to support the Philippines’ renewable energy transition. The bank’s ASENSO Financing Program provided a PHP 4-billion credit facility to the Cabuyao city government in Laguna for public infrastructure projects powered by renewable energy. Another key initiative is the Solar Merchant Power Plant (SMPP) Financing Program, which funds solar power developers looking to sell electricity through the Wholesale Electricity Spot Market. This industry-first initiative contributes to the Philippine government’s goal of generating 15,304 megawatts of renewable energy by 2030. Through these programs, DBP plays a key role in advancing the country’s clean energy transition while ensuring sustainable and responsible energy development.‍

Promoting Financial Inclusion and Social Development‍

DBP actively supports the government’s Pambansang Pabahay Para sa Pilipino (4PH) program, which provides financing to local government units, housing developers, and contractors for the construction of affordable housing units. By addressing the country’s housing needs, DBP facilitates inclusive growth and improves the quality of life for low-income families. The bank is also committed to supporting education through its Resources for Inclusive and Sustainable Education (RISE) program, which provides scholarships to financially disadvantaged students. In addition, DBP actively partners with the Department of Education through the Adopt-a-School Program, which aims to improve the quality of education by addressing resource shortages in public schools. These initiatives reflect de Jesus’s personal values of giving back to the community and investing in future generations.‍

Strengthening Governance and Institutional Growth‍

DBP’s commitment to best corporate governance practices has been recognized with multiple awards. The bank was inducted into the Corporate Governance Scorecard (CGS) Hall of Fame by the Governance Commission for GOCCs (GCG) for consistently ranking in the top ten since 2017. It was also ranked Top 4 in the CGS 2022 Ratings, achieving a perfect score of 100. A major milestone under de Jesus’s leadership is the approval of DBP’s new charter, which increases its authorized capital stock from PHP 35 billion to PHP 300 billion. This expansion enhances DBP’s ability to finance large-scale national projects, support micro, small, and medium enterprises (MSMEs), and boost social infrastructure investments. This move strengthens DBP’s financial position and reaffirms its role as a key player in national development.‍

A Future of Sustainable Growth‍

Under Michael O. de Jesus’s leadership, DBP has successfully expanded its infrastructure financing programs, led renewable energy investments, supported financial inclusion through housing and education initiatives, maintained strong corporate governance, and strengthened its financial capacity to drive future development. With a clear vision for sustainability, innovation, and financial inclusivity, DBP continues to be a catalyst for economic growth and social progress in the Philippines.

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