CATBALOGAN CITY -- The City Council of the Yolanda-hit Tacloban City, in Leyte, approved the City’s plan to secure a P391-million bank loan to finance development projects.
In last week’s session, the City Council, led by Vice Mayor Jerry Yaokasin, unanimously approved an ordinance authorizing Mayor Alfred Romualdez into a loan contract with the Land Bank of the Philippines.
“With the effect of climate change nowadays, we need to be prepared. We should put up flood mitigation projects such as the rehabilitation of the city’s drainage to avoid flooding,” said Councilor Cristina Romualdez, wife of the mayor.
Aside from the drainage project, the City is also addressing some age-old problems such as sanitary landfill, water shortage and slaughterhouse rehabilitation.
The loan is the first council-approved loan since Romualdez sits as mayor. The City’s first attempt to loan was in 2012, but it was strongly rejected by the council.
This year, however, majority of the councilors were in favor of the loan after a “master plan” was shown to them, and considering its “urgency.”
Councilor Neil Glova, who is now running against Cristina for the mayoralty bid, said he also supported the loan because, “it’s for the benefit of all Taclobanons.”
He said the loan will finance the projects, as follows: Rehabilitation of slaughterhouse – P113 million; Construction of drainage system – P192 million; and P86 million for the construction of sanitary landfill.
The amount being borrowed will be paid for 10 to 15 years with 4.5 percent interest per annum, starting with the city’s next year (2017) annual budget.
As for the Yolanda-recovery projects, the City Government has allotted around P60 million under its 2016 annual budget of P1.13 billion.
Meanwhile, the construction of the permanent housing for the victims of Typhoon Yolanda is now being undertaken by the National Government and international donors, officials said. (Sunnex)