Bacolod gov’t eyes P5-B loan for new legislative bldg, mini hospitals
Bacolod City Mayor Albee Benitez has asked the Sangguniang Panlungsod (SP) for an authority to sign a P5.5 million loan proposal between the city government and the Land Bank of the Philippines.
The Committees on Laws and Finance accepted the request during last week’s regular session and will be submitting a committee report after a committee conference with LandBank and the Development Bank of the Philippines, said Vice Mayor El Cid Familiaran.
Benitez said the loan will be used to fund the construction of a legislative building as well as the establishment of five mini hospitals in strategic areas of Bacolod. (https://bit.ly/410ViVR)
All projects to be implemented using the P5.5 billion loan will have to pass through the SP, he added.
Aside from the city’s health care system, the city mayor said they also plan to spend the loan for peace and order, roads, infrastructure and relocation sites.
“These things can’t wait. I don’t mind securing a loan to implement these services,” Benitez said adding that the loan will be payable in 15 years.