A CEREMONIAL signing of the P1-7-billion loan agreement between the City Government of Bacolod and the Development Bank of the Philippines (DBP) was held at the Bacolod City Government Center lobby last Friday, August 16.

Signing the agreement were Bacolod City Mayor Evelio Leonardia and DBP chair Alberto Romulo, and witnessed by Vice Mayor El Cid Familiaran, and DBP executives, namely, EVP Jose Gabino Dimayuga, head of Development Lending Center; SAVP Marissa Anino, head of Visayas Lending Group; VP Rosemarie Callanta, head of BBG-Western Visayas, and SM Bernardo Castillon Jr., head of Negros Occidental Lending Center.

Attending the ceremony were First Lady Elsa Leonardia, Councilors Cindy Rojas, Bartolome Orola, and Ayesha Villaflor, City Hall office and department heads led by City Administrator John Orola, Secretary to the Mayor Edward Joseph Cuansing, and City Legal Officer Joselito Bayatan.

The loan will fund four flagship projects of the Leonardia administration– P800-million Bacolod MassKara Coliseum, P350-million development of Progreso Village Relocation Site, P350-million Bacolod City College site development, and P200-million construction of roads and bridges.

Leonardia said, “When the history books of Bacolod will be written someday, this particular event that we are celebrating will surely be in an era when the growth and development of Bacolod City is accelerating.”

The mayor told the DBP executives, “Now we know why you are called the Development Bank. It’s because you build our hope for development.” (PR)