Pangasinan to borrow fresh P300 M
With just more than a year more before finally ending his term, Gov. Victor Agbayani was given the nod by the provincial board to borrow a fresh P300 million from the Land Bank of the Philippines.
Vice Gov.Oscar Lambino said this will be in addition to the P350 million earlier borrowed by the province which will soon be fully paid.
Provincial Administrator Virgilio Solis said the new loan will be used to build roads, bridges and communal irrigation systems that could spur economic activities and improve life of the people in the rural areas of the province.
The provincial board required Solis to submit a list of projects to be funded by the loan.
Land Bank has given Pangasinan a good credit rating because of its strict compliance with the terms of the last loan, expected to be fully paid by 2007.
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