No one opposes Capiz’s proposed PHP 1-billion loan

By Felipe V. Celino

ROXAS CITY, Capiz — No objections were raised during the public hearing on the Capiz provincial government’s proposed PHP 1-billion loan held Thursday morning, Dec. 18, at the Hall of Governor in the Capiz Provincial Capitol.

Most attendees expressed support for the loan, which is intended to fund the provincial government’s priority development projects in 2025.

The Sangguniang Panlalawigan (SP) of Capiz conducted the public hearing to discuss the provincial government’s request to secure a PHP 1-billion loan from the Land Bank of the Philippines (LBP).

SP member Gilbert Ardivilla, chair of the committee on infrastructure, presided over the session, which was attended by several mayors, local government officials, and representatives from the private sector.

The hearing focused on the letter of Gov. Fredenil “Oto” Castro requesting authority to negotiate and enter into a loan agreement through a memorandum of agreement with LBP.

According to the governor’s proposal, the loan will be used to finance projects expected to generate income and repay the loan.

Of the PHP 1 billion, PHP 300 million will be allocated for a three-hectare property behind the under-construction new provincial capitol, near the National Bureau of Investigation office and a subdivision entrance in Pueblo de Panay.

Another PHP 100 million will fund site development around the new capitol grounds.

PHP 350 million will go to the construction and rehabilitation of Villareal Stadium, including upgrades to the bleachers, athlete quarters, and dormitories.

An additional PHP 250 million is earmarked for the Roxas Memorial Provincial Hospital in Barangay Lanot.

Mambusao Mayor Leodegario Labao Jr. expressed no objections to the loan, stating that he trusts the governor’s intentions for the province’s development.

Panay Mayor Jonathan Sonny Besa proposed renaming the Roxas Memorial Provincial Hospital to Capiz Provincial Hospital and having it accredited by the Department of Health for conversion into a regional hospital or medical center.

All attendees agreed on the need to rehabilitate the more than 60-year-old Villareal Stadium.

Provincial budget officer Antonio Arbis stated that Capiz is eligible to borrow up to PHP 6 billion, as it currently holds no outstanding loans with any financial institution.

“Actually, there were other lending institutions willing to extend loans to the provincial government aside from the Land Bank of the Philippines and Development Bank of the Philippines, as they knew the financial capabilities of the province,” Arbis said.