Friday, April 21, 2006
Gov't bank opens new lending window for LGUs
THE Land Bank of the Philippines has opened a new lending window this year for local government units (LGUs) with a $100 million financing package that they could access for an upgraded and improved urban infrastructure and services.
The financing option made available to the LGUs falls under the World Bank-financed Support for Strategic Local Development Investment (S2LD).
According to LBP acting president and CEO Gilda E. Pico, the package is aimed at improving the living conditions, public health standards, and urban environment of the constituents of the LGUs.
The S2LDI will address the requirements of LGUs for the construction, upgrading and rehabilitation of basic urban and rural infrastructure facilities.
Among the projects eligible for financing are water supply, power production and distribution, solid waste management facilities including the construction of sanitary landfill and water treatment, construction of housing projects, slaughterhouses, health clinics, and transport center.
Meanwhile, some P1 billion for credit facility is also open to LGUs this year to finance basic infrastructure projects under the Lgu Investment Program (LIP), which is jointly financed by the Kreditanstalt fur Wiederaufbau (KfW), a multi-lateral agency and the LBP.
The LGUs can avail of loans for developmental projects such as construction of farm-to-market roads and bridges, ports, sanitation and flood control system, water supply, public markets and bus terminals and the rehabilitation of public facilities like hospitals, schools and parks.
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