The Sangguniang Panlalawigan of Negros Occidental unanimously approved yesterday the proposed 2018 general fund supplemental budget number 2 of the province, at a total amount of P178 million.
Of this amount, Board Member Salvador Escalante, chairperson of the SP Committee on Finance, said yesterday that P88 million will be used in the construction of a public market in Brgy. Ma-ao, Bago City, and P50 million for the construction also of a public market in Candoni, Negros Occidental.
Escalante said that P40 million has been allocated for the upgrading of the Calatrava District Hospital.
The fund will be taken from the Municipal Development Fund Office of the Department of Finance.
With the approval of the supplemental budget, Escalante said the bidding for the projects may start now.
The provincial government of Negros Occidental secured a P1.5 billion loan from MDFO to finance 42 infrastructure projects, and the purchase of P128 million worth of heavy equipment.
Escalante said the SP already appropriated P1.2 billion of the P1.5 billion MDFO funds.
The infrastructure projects are free for local government units, with P1.5 billion loan to be paid by the provincial government, he added.
Escalante also said that the bidding for the purchase of heavy equipment, such as bulldozers, graders, backhoes and dump trucks, has already been completed.
The loan comes at a minimal interest rate of 3 to 4 percent per annum, payable over a period of 15 years, he added. * GPB
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