ULAP, LBP assist LGUs vs Covid
GOV. DAKILA CUA
BY THELMA C. BICARME, PIA
CABARROGUIS, Quirino (September 17)—Union of Local Authorities of the Philippines National President and Governor Dakila Carlo Cua and Landbank president and chief executive office Cecilia Borromeo announced that local government unit (LGU) executives can now make full use of loans and loan subsidies to respond to the challenges of the coronavirus disease 2019 (Covid-19) pandemic.
This after President Duterte signed into law the Bayanihan to Recover as One Act (Bayanihan 2) which provides for a ₱165.5 billion fund for pandemic response and recovery.
The law sets aside ₱2 billion subsidy for the payment of interest on local government loans from state-run banks and ₱1.5 billion assistance to local government units.
In a letter to th...