Only ₱2.414 billion, or 57.88 percent, of Bacolod City’s ₱4.171-billion loan facility with the Development Bank of the Philippines (DBP) had been released as of September 30, a Sangguniang Panlungsod (SP) report shows.
The remaining ₱1.757 billion has yet to be released, based on the Partial Joint Committee Report submitted pursuant to SP Resolution No. 867, Series of 2026, Councilor Cesar Distrito said Monday, Oct. 26.
The joint report was prepared by the committees on Appropriations and Finance, Government Assets, and Laws, Ordinances, and Good Government following an initial review of the loan facility and its corresponding infrastructure and development projects, he said.
Councilor Thaddy Sayson, chair of the Committee on Appropriations and Finance, emphasized the need to distinguish between approved credit and actual disbursements.
“The Partial Joint Committee Report clearly shows that the entire ₱4.171 billion loan facility was not released as of September 30, 2026,” Sayson said.
“It is important that public discussions be based on the figures reflected in the official records.”
Distrito echoed Sayson’s sentiments, clarifying that official records debunk claims that the entire multi-billion fund had already been spent.
“The report does not support the claim that the entire ₱4.171 billion had already been released or spent,” Distrito said.
“We must distinguish between the approved loan facility and the actual releases made for project implementation.”
Distrito added that the report is partial and that the city council’s oversight function will continue as project implementations progress.
Projects funded or slated to be funded under the facility include road network improvements, asphalt overlays, traffic light systems, the City Motorpool, solar power generating systems, drainage improvements, a city warehouse, the Legislative Building, the rehabilitation of the Old City Hall, and the City Health Complex.
According to the committees, these projects are at varying stages of completion, ranging from completed to ongoing.
Councilor Al Victor Espino, chair of the Committee on Laws, Ordinances, and Good Government, stressed that the legislative review aims to safeguard public funds and enforce accountability.
“The purpose of the committee review is not to prejudge any person or transaction, but to establish the facts based on official records and to ensure that project implementation complies with applicable laws, rules, and regulations,” Espino said.
The SP joint committees maintained that they will continue monitoring fund releases, utilization, and project milestones under SP Resolution No. 867 as additional official reports are submitted.*
[sibwp_form id=1]