INDUSTRIAL RESTRUCTU

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The Industrial Restructuring Project's objectives are to: (a) support the revival and the strengthening of the industrial sector; (b) support sound industrial investment in subsectors free from major distortions resulting from inappropriate trade and regulatory policies; (c) help make the cement, pulp and paper, textiles, shipping and ship repair subsectors more competitive; (d) strengthen the institutional framework for environmental protection; and (e) strengthen the Development Bank of the Philippines (DBP's) capabilities to play a more active role in developing the capital market. The project comprises the following components: (a) a credit line and export credits for on-lending to enterprises in eligible industrial subsectors for modernization, expansion and new facilities, including investments in energy conservation and pollution control devices; (b) lease financing; and (c) training and technical assistance for: (i) selected subsectors; and (ii) environmental protection.