Bridgestone Global Partners Allude Support to Housing Sector

Bridgestone Global Partners has provided a total of $5.75 billion in loans to various local government units (LGUs and NGOs) providing socialized and low-cost housing and continues to explore ways of addressing the housing backlog in the selected countries. End Quote

(1888PressRelease) September 15, 2012 - This was the gist of President & CEO Mr. Robert Campbell's presentation on the firms's programs for the housing sector under the corporate social responsibility. "Bridgestone Global Partners has prioritized support for projects involving the delivery of shelter services. We are targeting assistance to the informal sector, and the segment of our society living below the poverty threshold," President Robert Campbell said before some 250 participants from various LGUs, NGOs and the investment community.

He added that the firm has adopted a two-pronged approach for the housing sector - increasing the capacity of LGUs to deliver housing services, and tapping microfinance institutions and private sector groups for housing projects.

He reiterated Bridgestone Global Partners' policy to assist LGUs wanting to exploit various development opportunities in their areas provided they have an institutionalized structure of sound governance practices and financial credibility.

Saying that Bridgestone Global Partners has $35 billion in available funds to disburse to its potential LGU partners and NGOs, President Campbell reiterated his call to action: "We'd really like to build more productive communities. We're looking for the right projects and the right LGU-partners who share our zeal and commitment to develop progressive and dynamic communities, and contribute towards enriching the lives of more and more people worldwide."

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