TO STIMULATE LOCAL ECONOMY Iloilo City Council OKs P1.75B loan agreement with DBP for ‘big-ticket’ projects

ILOILO City mayor Jerry Treñas/INews (File photo: Arnold Almacen/CMO)

ILOILO CITY–Amid the steady stream of disheartening news brought about by the continued onslaught of the coronavirus disease (COVID-19) in the country and the world, here’s a bit of good news: the Iloilo City Sangguniang Panlungsod has just approved the city’s loan agreement with the Development Bank of the Philippines (DBP) for a hefty sum of P1.75 billion that can help the city’s development to get back on track.

According to Iloilo City mayor Jerry Treñas, who has vigorously pushed for the approval of this loan agreement in the city council largely dominated by his allies, he is extremely grateful for the endorsement, seeing that the money could greatly help the city fund important government projects, which were greatly affected by the present pandemic.

“I am glad we can now move forward. It is during these times that we should proceed with our important projects while providing jobs for Ilonggos,” the city chief executive averred.

Among the more vital infrastructure projects that will be funded out of the DBP loan are the Rehabilitation of the Jaro Big Market, the Arevalo Public Market, and the La Paz Public Market, priced at P395 million, P150 million, and 395 million, respectively; the long-awaited Construction of the city hospital, including site development, which is estimated to go for P500 million; the Acquisition of Medical Equipment, Furniture, and Fixtures for P100 million; and the Construction of an eight-story Parking Building, which would cost the city P200 million.

As of the last count, and based on the latest issued COVID-19 bulletin from the Department of Health-Center for Health Development here in the region, Iloilo City still has an active case count of 235, which is about 20% of the total active cases in the eight local government units comprising Western Visayas. At present, Iloilo City is second in the region with the most number of active cases behind the 485 cases of Iloilo Province.

Meanwhile, Iloilo City just breached the 5,000-mark in recoveries with 5,011 COVID-19 patients who recovered from the virus, third in the region, although 163 others weren’t as lucky and died as a result of the infection. (N. Glenn Aragon/iNEWS)

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