NorthCot to borrow a billion pesos to ensure economic growth

This was bared by Cotabato Governor Jesus Sacdalan in an emergency meetingTuesday with local chief executives from at least 13 towns and this city.

Sacdalan said at least two government banks, the Development Bank of the Philippines and the Land Bank of the Philippines, have agreed to lend them the money.

Of the P1 billion, at least P400 million would be allotted for road asphalting, especially in areas considered as ‘food baskets’ of the province.

Also, part of the fund will be used to construct farm-to-market roads, especially in Cotabato’s first district, and for road repairs and maintenance.

Some P200 million is set for food security programs, though Sacdalan assured residents that rice supply in the province is ‘stable’.

The provincial government will also allot P200 million to strengthen its rubber development program and to improve other high-value crops.

Another P200 million will be for the improvement of the North Cotabato Provincial Hospital.

The governor wants the provincial hospital to be converted into a regional and medical center in Southwestern Mindanao.   

Part of the loan, he said, will be used to construct three more hospitals in the province, especially in areas that lack basic health services. (MindaNews)