Davide gets authority to negotiate P1.5-B DBP loan for building project

THE CEBU provincial capitol building — CEBU.GOV.PH

THE CEBU Provincial Board (PB) has approved a resolution authorizing Governor Hilario P. Davide III to negotiate with the Development Bank of the Philippines (DBP) for a P1.525-billion loan that will be used to construct a 20-storey building. The “modern” building, which will be inside the Capitol compound, will house government offices and commercial establishments. The final deal between the provincial government and the bank will be subject to approval by the board. Meanwhile, Mr. Davide said in an interview that the National Historical Commission will be consulted on the planned edifice as the Capitol compound, located in Cebu City, is a declared heritage site. The governor said he is hoping to break ground for the project before the year ends. — The Freeman