BAYOMBONG, Nueva Vizcaya, January 29 (PIA) - Governor Carlos Padilla here said the provincial government's P1 billion loan with the Land Bank of the Philippines (LBP) is an economic stimulus designed to bring in more progress and development to the Indigenous Peoples (IPs) and boost health services for Novo Vizcayanos.
"Our loan with the LBP is right because it is intended for the welfare, development and progress of the province and its villagers. We thank LBP for acting fast on our application," he said.
The governor said the economic stimulus is in line with the Local Government Code (LGC) provisions and the Constitution and fully supported by the Monetary Board.
Padilla said the P1 billion loan agreement with the LBP will contribute to the speedy economic recovery of the province and the country.
"According to the National Economic and Development Authority (NEDA), the country has been suffering economic recession for the last 2 or 3 quarters since last year and this is one way of addressing it," he said.
Padilla also said part of the loan stimulus will be spent on health projects to boost the capability and infrastrucure resources of PLGU-run hospitals with the on-going COVID-19 pandemic.
He added the P1 billion loan will also develop and improve roads that will benefit the IPs in the hinterlands of the province.
"Opening and improving the roads will help a lot of our IPs as they are engaged in agriculture and in turn, facilities of our gov’t will be brought in," Padilla added.
He said that with the well impoved roads and other support infrastrcuture projects built in the IP communities, upland farmers will have ease of doing business to support their families.
"In fact, it is the national government that is encouraging us to do something and do our share in the fast recovery of our national economy," Padilla stressed.
The P1B loan will fund the construction of the Bagabag District Hospital Dietary, laundry and ward building with P57 million and its access road with P4.8 million, construction of the provincial hospital main building phase III with P140 million and the upgrading of farm-to-market roads with P800 million.
This also include the upgrading of the CVR Kinacao-Kurasay-Kinalabasa Road, CVR Nagsabaran-Decabacan-Ampakleng Road, Bonifacio-Dagupan-Palayan Road, Difuday-Bonifacio Road, Dupax del Sur-liyo-Carolotan Road, Palaabotan-Caino-Anayo-Canarem Road and the Jct. Nat'l Bua-Bulala-Muta-Macabenga Road. (ALM/BME/PIA 2-Nueva Vizcaya)
Source: Philippines Information Agency (pia.gov.ph)
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