BEAT THE HEAT Tourists enjoy island-hopping and other water activities at Hundred Islands National Park in Alaminos City, Pangasinan, in this photo taken last month. Tourism is seen to benefit as Pangasinan prepares to build more roads and seaports and improve its transportation hubs through a government loan. 鈥擶ILLIE LOMIBAO
Land Bank of the Philippines (Landbank) has set aside P6 billion as a lending kitty for the Pangasinan provincial government鈥檚 big-ticket projects, including those related to the planned 166-kilometer Pangasinan Link Expressway (PLEX).
鈥淭he P6-billion loan is in full support of Pangasinan鈥檚 development agenda toward a more inclusive, resilient, and sustainable local economy,鈥� Landbank president and chief executive officer Cecilia Borromeo said in a statement.
鈥淭his investment also underscores Landbank鈥檚 collaborative efforts for the province鈥檚 growth trajectory anchored on the efficient delivery of public service,鈥� Borromeo said.
The omnibus loan package is intended to help fast-track priority projects in transportation or mobility, health, education, tourism development and urban township projects in the province.
A big chunk or P2.85 billion of the term loan agreement with Pangasinan is for infrastructure projects designed to enhance mobility and upgrade healthcare services in the province.
Regarding the PLEX, formerly called Pangasinan East-West Expressway, the provincial government plans to have terminals, land ports, and bus stops built along the expressway to complete an intermodal transportation system that is designed to promote better mobility to local tourist destinations.
Transport
Terminals, land ports, and bus stops will be built along the planned expressway to complete an intermodal transportation system, designed to promote local tourist destinations.
The province is also building seaports and expanding the Lingayen airport in the provincial capital. A new airport is planned for construction in Bani town.
In addition, the loan package will cover the establishment or upgrading of provincial hospitals聽in the cities of Urdaneta and San Carlos, and the towns of Lingayen, Tayug, Binalonan, and Umingan.
Landbank will also provide financing worth P1.95 billion to boost tourism activities, which include the construction of a new hotel 鈥渨ith an international brand,鈥� among other resorts for construction, and the development of event and entertainment facilities.
The remaining P1.2 billion loan is allocated to the establishment of the Pangasinan Polytechnic College and the enhancement of several government centers.
鈥擱ONNEL W. DOMINGO
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