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Parañaque settles P1B loan for building City Hall annex

in City News / Parañaque by 443

The city government of Parañaque has finally settled the P1-billion loan it owed the Landbank of the Philippines for the construction of the City Hall Annex.

Mayor Edwin Olivarez on Monday raised the certificate of confirmation from Landbank that the city government has settled the billion-peso loan last month.
The administration of former city mayor Florencio Bernabe Jr. took out the loan for building the City Hall Annex but the structure remained unfinished when Olivarez assumed office in 2013.

With the city government paying off its billion-peso debt, public funds can be spent on key programs and projects that will benefit residents.

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