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May 27, 2024

Landbank extends P4.3 Billion for Pangasinan development initiatives

Land Bank of the Philippines (LandBank) has approved a P4.3-billion financial assistance for diverse projects in Pangasinan, as part of a P6-billion omnibus term loan agreement inked earlier this year.

The state-owned bank allocated a substantial portion of the loan, amounting to P1.8 billion, for the construction of an 11-story government center in Lingayen, which will serve as the offices for various agencies.

Additionally, P758 million is designated for the procurement of advanced hospital equipment to enhance healthcare services, benefitting the Pangasinan Provincial Hospital and 13 smaller hospitals in the province.

Another allocation of P700 million is earmarked for the acquisition of land and construction of support facilities for the Bolinao Airport.

Furthermore, P500 million is allocated to establish a corporate center for businesses and commercial spaces, aimed at stimulating local economic activity.

The remaining P500 million will be utilized for the development of the Provincial Capitol Complex.

Bankero, Landbank President and CEO Lynette Ortiz expressed the bank’s commitment to supporting Pangasinan in fostering a more inclusive and sustainable local economy through a range of support services.

Ortiz emphasized the bank’s dedication to expediting progress in the province, facilitating improved basic and medical services, increased socio-economic activities, and a more resilient local tourism sector.