The Land Bank of the Philippines (Landbank) has committed to provide the Provincial Government of Sarangani with P1-billion worth of loans to fund the province’s various development projects.
Landbank President and CEO Cecilia Cayosa Borromeo and Sarangani Governor Rogelio Pacquiao signed the term sheet for the proposed loan. They were joined by Vice Governor Dr. Elmer De Peralta, Provincial Administrator Atty. Ryan Jay Ramos, together with Landbank Senior Vice Presidents Ma. Celeste Burgos, Leila Martin, Charlotte Conde, and Camilo Leyba, and Vice President Eden Japitana, among other bank officers.
“Landbank fully supports the vision for Sarangani Province to have a self-sustaining and globally competitive economy. Together, let us continue to explore more avenues for collaboration, in the service of your constituents, and the nation at large,” Borromeo said.
The loan was approved by the Landbank Board on 25 January 2023.
Of the P1-billion loan, Sarangani eyes to allocate P500 million for the acquisition of several heavy equipment, P200 million for hospital and medical equipment, and P300 million for the establishment of the Provincial Agri-Fisheries Complex.
“My heartfelt appreciation and gratitude to LANDBANK for gladly opening its doors, once again, to the Provincial LGU of Sarangani with its proposal to raise as much as P1 billion to fund the province’s programs and projects,” Governor Pacquiao said.
