Jasaan Mayor Redentor S. Jardin (center) and Acting Municipal Treasurer Florilinda H. Caparas (right), sign two (2) loan agreements with LANDBANK Capistrano Branch Head Assistant Vice President Josephine B. Mercadal (left) and LANDBANK Cagayan de Oro Lending Center Account Officer Ramil C. Lumayag (standing, left) to finance the upgrading of water system facilities and the construction of a sanitary landfill and slaughterhouse in the municipality.
JASAAN, Misamis Oriental – The Land Bank of the Philippines (LANDBANK) and the Municipal Government of Jasaan, Misamis Oriental recently entered into two (2) loan agreements totaling P300 million for the expansion of the municipality’s water system and the construction of a sanitary landfill and slaughterhouse facilities.
Mayor Redentor S. Jardin and LANDBANK Capistrano Branch Head Assistant Vice President Josephine B. Mercadal led the loan signing together with Acting Municipal Treasurer Florilinda H. Caparas and LANDBANK Cagayan de Oro Lending Center Account Officer Ramil C. Lumayag on October 28, 2020.
LANDBANK granted the local government unit (LGU) a P150 million term loan to upgrade Jasaan’s water system facilities and address the municipality’s dwindling water supply. The expansion project aims to benefit around 7,723 households from six (6) barangays with efficient and uninterrupted potable water supply.
The loan will finance the construction of a Level-3 water system to connect secondary pipelines to Level-3 household connections. This will complete the series of upgrades implemented by the Jasaan LGU under its Potable Water Supply System Project.
LANDBANK also granted the LGU another P150 million term loan for the construction of a Category-1 Sanitary Landfill which will ensure the proper disposal of residual and hazardous wastes from the community. The project will involve the excavation of two (2) hectares of land, including the construction of drainage, gas ventilation, leachate, septic, hazardous waste and electrical systems, an administration building and a perimeter fence. The LGU is also looking to expand the landfill by 10 more hectares. In addition, a portion of the loan will be used to purchase several equipment for daily landfill operations.
The loan will also finance the construction of a class “AA” slaughterhouse that will upgrade Jasaan’s existing 100-square meter facility from accommodating up to 20 heads to 100 heads of hogs and cattle per day. Soon, farmers and raisers in the municipality will no longer travel far to accredited slaughterhouses in Cagayan de Oro City and Manolo Fortich for their needs.
“Even in the past, LANDBANK has been very accommodating and has supported our vision for Jasaan. With their assistance, we were able to establish our new municipal hall building and SIDARC water supply projects that continues to serve the citizens of Jasaan. Now, with the approval of our new loans, we are looking forward to bringing uninterrupted water services to the people and provide basic services for our constituents,” said Mayor Jardin.
LANDBANK has been a trusted partner of Jasaan LGU since 1993. In 2007, LANDBANK provided the LGU a P22.7-million term loan for the construction of the municipal hall building and a P29.71-million term loan for the establishment of its SIDARC water system.
“Working together is not something new to LANDBANK and LGUs. We recognize that LGUs are catalysts for positive change by bringing sustainable development in their respective localities,” said LANDBANK President and CEO Cecilia C. Borromeo.
Supporting local development
Through its financial services, LANDBANK supports LGUs in delivering local programs and projects geared towards accelerating inclusive and sustainable countryside development.
As of October 31, 2020, LANDBANK has extended P51.59 billion in outstanding loans to LGUs nationwide. This includes P17.18 billion for agri-aqua projects and P2.37 billion for utility projects of LGUs.
For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).
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