Of the P900 million PVB loan, P140 million will be paid for the existing loan from the same bank, thus only P760 million will be allocated to the different projects of the city government that would contribute to the development of the city, the city government explained. Topping the list of the proposed projects as contained in the ‘city within a city’ program is the construction of the Multi-purpose Convention Center and establishment of Economic Center as part of the planned Tourism and Economic Center with an allocation of P200 million.
Next is the proposed Food and Transport Terminal with budget allotment of P130 million aims at strengthening trade and improving quality of life of local farmers. The food terminal will serve as trading center for all agricultural produce including animals and other commodities.
For education as a priority of the city government, P180 million was set aside as starting fund for the establishment of a university while P50 million was earmarked for the acquisition of a parcel of land. The approval of the P900 million loan was made possible through the help and cooperation of the Sangguniang Panlungod in the hope of improving the quality of life of every city residents, the City Information Office said, adding that the city government secured the loan at a lower interest because of its good standing in loan payments. (CPG, PIA-Calabarzon with report from City Information Office, San Pablo) Carlo P. Gonzaga
Image souce: Babbles Abdon Cristobal