Mon, 28 Sep 2020

NV PLGU mulls P1.5B loan for health, road dev't projects

Philippine Information Agency
03 Aug 2020, 18:38 GMT+10

BAYOMBONG, Nueva Vizcaya, Aug. 3 (PIA) - The provincial government here is expected to pursue a loan offered by the national government to implement its various health and road development projects in the province.

Governor Carlos Padilla said the P1.5 billion loan offered by the Department of Finance (DOF)-Municipal Development Fund Office (MDFO) will further spur economic development in mostly upland communities in the province and to boost province's capability in addressing health problems and concerns such as the COVID-19.

"We are grateful that the provincial board has already gave the authorization for me to enter into a loan agreement with the DOF-MDFO. Rest assured that these projects will be implemented properly for the benefit of our fellow Novo Vizcayanos," he said.

According to Padilla, the projects to be implemented out of the P1.5 billion loan are the establishment of Biohazard Level 2 Laboratory at the Nueva Vizcaya Provincial Hospital (NVPH) in Bambang town worth P5 million, construction of the NVPH building phase III worth P162 million; dietary, laundry and ward building for the Bagabag Hospital in Bagabag town with its access road and cadaver holding area worth P32 million, P3 million and P1 million respectively.

The road development projects to be pursued are the upgrading of road network projects such as the Cagayan Valley Road(CVR) Kinacao-Kurasay-Kinalabsa Road worth P50 million; CVR - Nagsabaran-Dabacan-Ampakleng Road worth P80 million; Bonifacio-Dagupan-Palayan Road worth P100 million; Difuday-Bonifacio Road worth P62 million; Dupax del Sur-Liyo-Carolotan road worth P65 million; Palabotan-Caino-Anayo-Canarem road worth P260 million and the Junction National Bua-Muta-Macabenga road worth P180 million.

Padilla said the P1.5 billion loan will be beneficial to the province considering its low interest and its major impact on the socio-economic growth of Nueva Vizcaya.

"This is a good opportunity for us since we will be realizing our projects within 2 to 3 years compared to our system of funding these projects through our local sources which can only accomplish portions of our road development projects," he added. (MDCT/BME//PIA 2-Nueva Vizcaya

More Denmark News

Access More

Sign up for Copenhagen News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!