By Dominique Gabriel G. Bañaga
The Negros Occidental Provincial Development Council (PDC) recently approved P680 million worth of development projects, along with payments intended for loan amortization, or the payment of interest expenses.
P392.5 million is appropriated for priority development programs and projects, while the P215.5 million will be for payment of loan amortizations.
The resolution approving the amount noted the loans were borrowed as a means of financing “priority projects.”
Among the projects indicated were the Negros First Hostel; a new hotel at the Mambukal Mountain Resort, part of a development that also includes a convention center; and the construction and renovation of the Negros First Food Terminal.
The said projects have all been in the works since February 2016, with work expected to begin in January.
Despite the Negros Occidental Provincial Board earlier passing a P500 million supplemental budget for these projects, the latest resolution will still require concurrence from the board./DGB, WDJ