Capiz to borrow PHP 1 billion for key projects
ROXAS CITY, Capiz — The provincial government of Capiz, through Gov. Fredenil “Oto” Castro, is planning to apply for a PHP 1 billion loan from the Land Bank of the Philippines to fund its priority projects for 2025. The proposed projects are intended to generate income to repay the loan. A
By Felipe V. Celino
By Felipe V. Celino
ROXAS CITY, Capiz — The provincial government of Capiz, through Gov. Fredenil “Oto” Castro, is planning to apply for a PHP 1 billion loan from the Land Bank of the Philippines to fund its priority projects for 2025.
The proposed projects are intended to generate income to repay the loan.
A source from the provincial capitol said PHP 300 million will be allocated for a three-hectare property located behind the under-construction new provincial capitol building, near the National Bureau of Investigation office and the entrance to a subdivision in Pueblo de Panay.
Meanwhile, PHP 100 million will be used for site development of the new capitol grounds, and PHP 350 million for the construction and rehabilitation of Villareal Stadium.
Another PHP 250 million will be allocated to the Roxas Memorial Provincial Hospital in Barangay Lanot.
A committee hearing between the provincial government and Land Bank was recently held to discuss the loan proposal.
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