P200-M LANDBANK loan to aid recovery, dev’t in Calayan, Cagayan

CALAYAN, Cagayan – The Land Bank of the Philippines (LANDBANK) approved a P200-million loan for the Municipal Government of Calayan to finance infrastructure projects for its development and recovery efforts, amid the ongoing health crisis.

The local government acquired the financing under the LANDBANK RISE UP LGUs (Restoration and Invigoration Package for a Self-sufficient Economy towards UPgrowth for LGUs) Lending Program, designed to provide the funding requirements of provincial, city and municipal local government units (LGUs) for the implementation of their respective economic recovery plans.

Part of the 15-year term loan will be used to put up a 270-square meter quarantine facility in Barangay Dadao that will expand the municipality’s healthcare capacity in a bid to reduce the spread of COVID-19.

The 60-bed quarantine facility—which will feature individual partitions and lavatories—will replace schools currently being used as isolation areas for residents suspected or have tested positive for the virus. The facility is seen to enhance the comfort of patients while undergoing quarantine or treatment.

“LANDBANK continues to provide for the recovery and development requirements of our partner LGUs in response to the pandemic. We are focused on ramping-up initiatives in support of building resiliency and revitalizing local communities,” said LANDBANK President and CEO Cecilia C. Borromeo.

The #LANDBANK loan will also cover the construction of a perimeter security fence for Calayan’s community airport, which facilitates the delivery of vaccines and relief goods to the island, as well as the transport of patients under critical condition.

As part of Calayan’s development plan, the loan will also finance the concreting of the Babuyan Main Road and the routes connecting Caanawan to Kataruman, Dibay to Dilam, and Balatubat to Minabel, effectively doubling the Municipality’s concreted road network to 60% from the current 30%.

The road project is expected to reduce travel time around the island and eliminate slippery dirt roads during the rainy season, making transport safer and more efficient for locals, which includes 1,250 local farmers regularly transporting their agricultural produce.

The P200-M loan will also be used to finance the acquisition of a patrol boat and construction of the following facilities:  six (6) classrooms in different schools, one (1) school administrative building, and a 100-meter bridge in Brgy. Naguilian to help farmers safely transport their produce across a creek.

“Thank you to LANDBANK for being a reliable partner of LGUs in socioeconomic development and for providing us with the assistance we need for our projects, especially at this difficult time,” said Calayan Mayor Joseph M. Llopis.

The state-run Bank has previously financed Calayan’s other development projects, which include the purchase of a ferry which safely transports passengers from island to island, the construction of the Calayan airport, and concreting of the municipality’s road network.

As of 31 October 2021, LANDBANK has approved P94.03 billion in loans under the RISE UP LGUs Lending Program for 346 LGUs, including 45 cities, 35 provinces and 266 municipalities.