Iloilo City Council OKs P1.75-B loan

Mayor Jerry Treñas during flag ceremony.

ILOILO CITY COUNCIL OKs P1.75 BILLION LOAN: Mayor Jerry Treñas “authorized to enter into, negotiate and obtain a loan” from the Development Bank of the Philippines.

In a unanimously passed Resolution 2021-243 dated March 9, 2021 a copy of which was obtained today by HilwayNews, the council said the proceeds of the loan shall be for the rehabilitation of 3 public markets, construction of city hospital, and 8-storey parking building.

The projects and costs are: rehabilitation of Jaro big market P395 million, La Paz market P395 million, and Arevalo market P150 million.

Construction of hospital and site development P500 million, acquisition of medical equipment, furnitures and fixtures P100 million, construction of 8-storey parking building P210 million.

Only councilor Ely Estante was absent during the Iloilo City Council session on Tuesday, March 9, 2021.

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