{
  "id": 8057474,
  "title": "DBP: Over half of loans for e-jeep shift past due",
  "url": "https://urgent.news/2026/09/17/dbp-over-half-of-loans-for-e-jeep-shift-past-due",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/09/18/2556993/dbp-over-half-loans-e-jeep-shift-past-due"
  },
  "original_language": "en",
  "account": "The Development Bank of the Philippines (DBP) reported that over half of the loans for e-jeepney shifts were past due as of yesterday. The DBP revealed that P4.1 billion in debts remained unpaid by jeepney operators who adopted modern units under the government's Public Transport Modernization Program (PTMP). Out of the P7.5 billion in loans issued to jeepney operators transitioning to e-jeepney units, 55 percent are currently in default. These past-due loans impact up to 2,753 units, indicating significant challenges for some operators in meeting monthly amortization payments. The Land Bank of the Philippines also reported P2 billion in overdue loans to PUV cooperatives. To aid PUV cooperatives, the Department of Transportation (DOTr) allocated P1.5 billion in cash. However, the DOTr's ability to provide subsidies and prevent foreclosures is threatened due to its limited budget of P177 million for the PTMP in the proposed 2027 budget. Originally, the DOTr had proposed a budget of P2.17 billion to cover subsidies for the program. The PTMP, initially known as the PUV Modernization Program, aims to replace outdated jeepneys with newer, environmentally friendly, and safer models. Despite the government's efforts to support operators through loan programs, the high cost of acquiring modern units—potentially reaching P3 million per unit—has proven a significant barrier. Consequently, the DOTr faces the risk of entering 2027 with reduced or no funding for several priority projects, including the EDSA busway, which currently lacks allocated funds.",
  "summary": "State-run lender Development Bank of the Philippines yesterday said about P4.1 billion in debts remain unpaid by jeepney operators who availed themselves of modern units under the government’s Public Transport Modernization Program.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}