DPB approves P15-M loan for Mabalacat village-A A +A
Saturday, July 12, 2014
MABALACAT CITY -- The Development Bank of the Philippines (DBP)-Clark branch has approved a P15 million loan for Barangay Sapang Biabas here for its developmental projects.
DBP-Clark senior manager Remelyn Pagarigan said the P15 million is divided into two loans, which is P 10.7 million for the construction of farm to market roads and P4.3 million for the purchase of vehicles and equipment.
She said that the first loan is payable monthly in a span of 15 years with a grace period of one year while the second loan is payable in seven years, both of which are non-collateralized.
Pagaringan said that this is the first time the DBP has approved a loan to one of the barangays of this city.
"Nakita naman namin na maganda ang mga programs ni kapitan kaya very supportive and banko sa mga ganitong projects," she said.
For his part, barangay chairman Rizaldo Garcia, thanked officials of DBP for the loan saying that the funds will be used wisely for better and improved delivery of services to villagers.
He said that the construction of farm to market roads is needed to transport products from the barangay to the city proper.
Garcia added that equipment such as fire truck, dump truck, mini loader, man lift and bus will be essential in further serving the people.
"Yung fire truck magagamit namin pag may sunog, habang yung dump truck at loader ay makakatulong sa mga road projects habang yung mini lifter ay sa mga pagpapalit ng mga ilaw ng poste at yung bus sa mga estudyante namin na nag-aaral sa Mabalacat City College," he said. (Chris Navarro)
Published in the Sun.Star Pampanga newspaper on July 13, 2014.