By Dominique Gabriel G. Bañaga

A ceremonial signing for a P1.7 billion loan was held yesterday between the Bacolod City government and the Development Bank of the Philippines (DBP). The city earlier announced the loan would be used to finance “flagship projects” including the P350 million Progreso Village relocation site; Bacolod City College (BCC) site development and facilities worth P350 million; P800 million for the Bacolod MassKara Coliseum; and P200 million for the construction of roads and bridges.
Former Senator Alberto Romulo, who served as chairman of the board for DBP, was present for the signing and said funding will disburse according to the schedule of the proposed projects.
Meanwhile, a groundbreaking ceremony for the BCC construction project was held prior to the signing.
Romulo, who was also present for the groundbreaking, said, “Through education, we [can] truly reduce the poverty level of our people.”/DGB, WDJ