The state-owned Development Bank of the Philippines (DBP) has granted a P3-billion loan to the local government unit (LGU) of Mandaue City for the construction of its new Mandaue City Hall, a top official said.
DBP president and chief executive officer Michael de Jesus said the loan was granted under the Bank’s pioneering Assistance for Economic and Social Development (Asenso) for LGUs Financing Program and would be utilized for the establishment of the city’s one-stop-shop government center.
“DBP believes in the vision of the Mandaue City LGU of making it easier for all its constituents to transact with the government by building a new government center where all government offices and departments will be housed,” de Jesus said. “This is in line with President Ferdinand R. Marcos, Jr.’s goal to promote transparent and efficient public governance.”
De Jesus said the office structure would be at least eight storeys high and will have green building features. It would be constructed on a 4.3-hectare property in downtown Mandaue City and would house government frontline offices, satellite offices, as well as executive and legislative offices.
He said the loan agreement with Mandaue City is one of the key projects this year under the ASENSO for LGUs Financing Program, which assists LGUs in their implementation of various infrastructure projects, including the acquisition of machinery and equipment, and the establishment of smart, sustainable, and disaster-resilient communities nationwide.
“As of January 31, 2024, DBP has approved a total loan amount of P108.2 billion for 378 accounts under the Asenso for LGUs Financing Program, with total loan releases amounting to P33 billion,” de Jesus said. “DBP is ready to work with more LGUs in their pursuit of various initiatives designed to accelerate infrastructure build-up and boost socio-economic development in their respective localities.”
