DOTR and DBP MOU for PUVMP Motoring News

Описание: A department that focuses on traffic management and one of the well-known banks in the country are partnering to improve the public transport in the country by furthermore developing the PUV operations.

The Department of Transportation or DOTr and the Development Bank of the Philippines or DBP recently signed a Memorandum of Agreement or MOU to jumpstart the realization of the PUVMP or the Public Utility Vehicle Modernization Program. The program does not only aim to modernize PUV operations in the country, but also to professionalize the public road transport sector.
To assist the government in implementing the PUVMP, DBP developed PASADA or the Program Assistance to Support Alternative Driving Approaches which will offer responsive and reasonable financing for transport corporations and cooperatives to allow them to acquire new and passenger safe PUVs.
Under the MOU, the DBP shall advise and assist the DOTr in developing a financing program for the PUVMP. It shall also make available loans to finance the acquisition of new PUVs to qualified prospective borrowers.

The DOTr launched the PUVMP to help the public road transport sector to transition to a high-quality public transport system with greater capacity, environment-friendly low carbon emissions, and efficient operations via modernization of vehicles.///That’s all for this week on transportation and traffic management updates. Motoring Today now takes a short break.