(Let me give you Jack Gadaingan's report which appears in today's edition of the Manila Bulletin)
CALBAYOG CITY — Some P368 million worth of economic infrastructure projects will be implemented soon in this city as an offshoot of an investment forum held at Sofitel Philippine Plaza in Manila last week.
The biggest finance taker during the investment forum was the Development Bank of the Philippines (DBP), which signified willingness to finance all the four major projects presented by the city of Calbayog.
The presentations of projects were also attended by corporate executives from San Miguel Corporation, Land Bank of the Philippines (LBP) and Pag-IBIG Fund.
The four major Calbayog projects amounting to P368.8 million are the Bangon Falls Mini-Hydro Power Development Project in the amount of P129 million; the New Calbayog City Public Market, P121.8 million; the medium-rise housing project for government employees, P68 million; and the rehabilitation of Ton-ok mini-hydropower plant, P50 million.
It was learned that aside from the DBP, Land Bank also aired its interest to finance the Calbayog projects.
Calbayog City Mayor Mel Sarmiento, who led the panel of presenters, said he was happy how the investment forum turned out in favor of his city.
“With more than one financing institution interested to partner with us in the implementation of the projects, the Calbayog City government is in the right position to choose which among them could offer more lucrative terms for the city,” he said.
The projects will be the biggest break for Calbayog City to have major economic infrastructures never experienced by the city before, he added.
Joseph Lim, financial analyst for Institute for Solidarity-Asia (ISA), said that with the current local revenue collection and Internal Revenue Allocation (IRA) of Calbayog from the national government, the city is eligible for even higher investment borrowings than what the four major projects require. (JACK C. GADAINGAN)
For related blog posts, please check these: link 1, link2.
Showing posts with label ISA. Show all posts
Showing posts with label ISA. Show all posts
Thursday, March 19, 2009
Sunday, March 15, 2009
LGUs push dev’t programs for cities to counter downturn
(This report was taken from the Manila Bulletin website)
Philippine cities are moving forward with development plans despite the impact of the economic crisis on local communities, according to the Institute for Solidarity in Asia (ISA). In January, Balanga, Bataan – in only its ninth year as a city – designated an 80-hectare site as a university town. Plans call for developing a world-class educational center on the site by 2020 to support the city’s business development goals.
Balanga is confident, according to ISA officials, of meeting its goal of becoming a premier educational and business center. Its efforts towards that end have already been recognized. Last year, Balanga was named the most business-friendly local government unit in the Philippines by the Philippine Chamber of Commerce and Industry.
ISA conducted a Public Governance Forum on March 11-12.
Other cities represented included
Bayawan, Negros, which is pursuing efforts to become an agricultural center. The city government distributed 1,446 thousand cavans of rice seeds worth P1.16 million to farmers in the city in 2008. Bayawan is consistently one of the top rice producers in Negros.
Last year, the CAO produced 20,508 packs of Bio-N, an organic fertilizer, which was distributed to 4,100 farmers in the city. The city has vast economic potential, with 140 hectares available for agricultural development and production.
Iloilo City is also improving its infrastructure this year to support tourism. President Gloria Macapagal-Arroyo recently declared the city’s 10.6% annual average growth in tourism as the best performance for the country in the tourism industry. Noteworthy projects include the new Iloilo airport. Iloilo City plans to improve other transport infrastructure with the construction of its second mega-flyover this year, following the construction of the Gen. Luna-Infante flyover in 2008. The city is the site of major foreign investment targeting the tourism sector.
Another city investing in local projects despite the downturn is Calbayog, Samar. Calbayog is developing into an agro-industrial community and is leading efforts to coordinate development programs for the region by championing a unification initiative with the theme “One Visayas, One People, One Destiny.” The local government supports local and international celebrations, such as Women’s Month this March, which can support women’s rights while fostering increased tourism.
The Calbayog city government also offers free medical, legal, and counseling care for women. Regina Rabuya, chairperson of the local Women and Family institution says these programs are an acknowledgement of the contributions of local women to the progress of the city.
Philippine cities are moving forward with development plans despite the impact of the economic crisis on local communities, according to the Institute for Solidarity in Asia (ISA). In January, Balanga, Bataan – in only its ninth year as a city – designated an 80-hectare site as a university town. Plans call for developing a world-class educational center on the site by 2020 to support the city’s business development goals.
Balanga is confident, according to ISA officials, of meeting its goal of becoming a premier educational and business center. Its efforts towards that end have already been recognized. Last year, Balanga was named the most business-friendly local government unit in the Philippines by the Philippine Chamber of Commerce and Industry.
ISA conducted a Public Governance Forum on March 11-12.
Other cities represented included
Bayawan, Negros, which is pursuing efforts to become an agricultural center. The city government distributed 1,446 thousand cavans of rice seeds worth P1.16 million to farmers in the city in 2008. Bayawan is consistently one of the top rice producers in Negros.
Last year, the CAO produced 20,508 packs of Bio-N, an organic fertilizer, which was distributed to 4,100 farmers in the city. The city has vast economic potential, with 140 hectares available for agricultural development and production.
Iloilo City is also improving its infrastructure this year to support tourism. President Gloria Macapagal-Arroyo recently declared the city’s 10.6% annual average growth in tourism as the best performance for the country in the tourism industry. Noteworthy projects include the new Iloilo airport. Iloilo City plans to improve other transport infrastructure with the construction of its second mega-flyover this year, following the construction of the Gen. Luna-Infante flyover in 2008. The city is the site of major foreign investment targeting the tourism sector.
Another city investing in local projects despite the downturn is Calbayog, Samar. Calbayog is developing into an agro-industrial community and is leading efforts to coordinate development programs for the region by championing a unification initiative with the theme “One Visayas, One People, One Destiny.” The local government supports local and international celebrations, such as Women’s Month this March, which can support women’s rights while fostering increased tourism.
The Calbayog city government also offers free medical, legal, and counseling care for women. Regina Rabuya, chairperson of the local Women and Family institution says these programs are an acknowledgement of the contributions of local women to the progress of the city.
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