
Bacolod SP grants mayor authority for P5.5B DBP loan
The Bacolod City government is availing of its P5.5 billion loan from the Development Bank of the Philippines because it has offered the lowest interest rates, Councilor Jude Thaddeus Sayson, Sayson, Sangguniang Panlungsod (SP) Committee on Appropriation and Finance chair, said.The Bacolod SP approved a resolution on Wednesday, March 29, granting Mayor Alfredo Abelardo Benitez authority to give his conformity to the Term Loan Facilities approved by DBP in the amount of P5.5 billion.“We granted the mayor the conformity to submit DBP as the bank of choice of Bacolod City to the Bureau of Local Government Finance (BLGF),” he said.After the BLGF releases its approval the city can then go ahead and avail of the loan with DBP, Sayson said.The projects listed by the DBP in its not...









