THE Land Bank of the Philippines announced it would provide the Provincial Government of Sarangani P1 billion worth of loans to fund the province’s various development projects.
LandBank President and CEO Cecilia C. Borromeo and Sarangani Governor Rogelio D. Pacquiao signed the term sheet for the proposed loan last January 19 in General Santos City.
The loan was approved by the LandBank Board last January 25. Of the P1-billion loan, Sarangani eyes to allocate P500 million for the acquisition of heavy equipment, P200 million for hospital and medical equipment and P300 million for the establishment of the Provincial Agri-Fisheries Complex.
