Alaminos set to borrow P175-M for 100 Isles

By July 28, 2014Business, News

ALAMINOS CITY—Encouraged by the increasing number of tourists to the Hundred Islands, the city council passed an ordinance last week authorizing its mayor to borrow P175-million from the Land Bank of the Philippines to fund more improvements in the Hundred Islands National Park (HINP) and the redevelopment of Lucap Wharf.

The projects identified for the use of the loan has been certified as local infrastructure and other socio-economic development projects in accordance with the approved development plan and public investment program for 2014 in this city, the ordinance said.

The loan application is supported by a final feasibility study prepared by the Local Finance Committee, it added.

The ordinance is now with the provincial board for review.

The HINP is Pangasinan’s major tourist destination while the Lucap Wharf is the jump-off point to the islands. —Tita Roces

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