MISAMIS Oriental Governor Yevgeny Emano has maintained that the Provincial Government is not yet borrowing money from government banks especially that midterm polls is coming even as the capitol has the capacity to loan as much as P2.4 billion.
Emano clarified that his plan to avail of loans will be for his future programs and projects should he win in his bid for the third and final term as governor of the province.
The governor is planning to borrow money for the construction of a pragmatic sports center which is set to begin next year.
A pragmatic sports center means sports facilities or stadium are being situated inside the schools in different municipalities under the supervision of the Department of Education.
"Kini aron nga dili magamit sa politika o pamulitika ni bisan kinsa," Emano said.
"To tell you honestly we will not borrow money today, this year or even before or after the election," he added.
The governor said Capitol is making the preparations to get funds from banks through an omnibus loan when the plan for the construction of the pragmatic sports center is all set.
"We are only preparing an omnibus loan which the government banks are offering. Omnibus loan is actually like a savings account nga naa sa bangko anytime you need money. Example kon naay investor nga gusto mag invest og $50 million pero unsa man inyong dalan pangit man ayha na dayon mi magkuha og pila ka pesos aron pagsemento sa dalan," Emano said.
Provincial board member Wyn Militante has passed a resolution authorizing the governor to negotiate with government banks for possible loan agreements as the Capitol claims it is allowed to borrow as much as P2.4 billion.
The Capitol's top official also said if he lost in the election, the next administration could benefit the omnibus loan.
"Every time we will get money from our Omnibus Loan, I have to go back to the Provincial Board to get approval. That is Omnibus loan meaning when we will have investors coming, we are hoping that we are able give them what they want, so that we will be able to bring them in to the province," Emano said.