DBP extends term loan for Nueva Segovia coop

MANILA, Philippines - The Development Bank of the Philippines has granted a P25-million term loan to the Nueva Segovia Consortium of Cooperatives to finance the construction of a three-story hotel building to be located at the heart of Vigan, also known as the Heritage City.  This is the second hotel building of NSCC, the first being located at Caoayan, Ilocos Sur where the company’s main office is based.  The new hotel building, with a total floor area of 901 square meters, will have 17 hotel rooms, a restaurant, parking areas, and commercial spaces for rent.  Heritage City will help address the shortage of accommodation facilities following the declaration of Vigan City as one of the Seven Wonder Cities of the World.