DOF certifies borrowing capacity of Yolanda-stricken local gov’ts

MANILA, Philippines - The Department of Finance (DOF) has awarded Super Typhoon Yolanda-stricken local government units (LGUs) with certification of borrowing capacity to help them apply for loans.

The DOF yesterday said its Bureau of Local Government Finance (BLGF) approved P1.8 billion worth of loan applications from LGUs, which were submitted during the first quarter.

“The move is to ensure that other options for financing and fund mobilization, such as domestic borrowing are immediately available for post-Yolanda recovery and rehabilitation programs, in addition to projects already being implemented by the national government, as well as to fund previously proposed capital investment projects,” the DOF said.

Palawan, according to the DOF, is set to receive P1.2 billion from the Municipal Development Fund Office through its Disaster Management Assistance Facility.

The loan, meant for the procurement of heavy construction equipment to repair public infrastructure, is so far the largest certified by the BLGF this year.

Southern Leyte has applied for a P250-million loan for the construction of farm-to-market roads and a hospital building, while Negros Occidental asked for a P157.5-million loan for a cyber center.

Lambunao town in Iloilo has filed a P21-million loan application with the Land Bank of the Philippines for farm-to-market roads and heavy equipment, while Pilar town in Capiz sought P20 million for the construction of a public market.

Banate town in Iloilo is borrowing P16 million for the procurement of heavy equipment, while Makato town in Aklan applied for a P4-million loan for the construction of a multi-purpose building.

Passi City in Iloilo applied for a P33-million loan for the improvement of its city hall, while Banga town in Aklan filed a P50-million loan application with the Philippine Veterans Bank for the procurement of heavy equipment, the DOF said.

Salcedo town in Eastern Samar applied for a P47-million loan from the DOF’s Municipal Development Fund Office.

Meanwhile, Manila Auxiliary Bishop Broderick Pabillo yesterday urged the Aquino administration to speed up rehabilitation efforts in Yolanda-hit areas in time for the visit of Pope Francis next year. – With Evelyn Macairan