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April 19, 2024

Landbank lends P190M for the construction of new public market in Isabela

State-run Land Bank of the Philippines headed by bankero Cecilia Borromeo has extended a P190 million loan to complete the construction of a new public market in the first-class municipality of Alicia in Isabela.

“Landbank is one with our local government partners in providing necessary facilities to support the growth of agri-producers and local entrepreneurs. This forms part of our broader thrust of helping build stronger and more resilient local economies,” the bankero said.

The facility availed by the local government of Alicia bankrolled the acquisition of a 20,000 square meter commercial lot in Barangay Antonino, Alicia, and jumpstarted the construction of the new public market building.

The rise of the new public market aims to decongest the existing market and provide business opportunities to small and medium enterprises, as well as ambulant vendors in Alicia and its neighboring towns.

Aside from the hiring of market administration personnel, the project has also generated jobs for around 230 indirect laborers involved in the development and construction of the building.

The new public market is set to have eight perimeter rows of stalls or about 172 stalls for dry goods and groceries, and four inside sections of about 108 stalls for fruits and vegetables, including meat and fish sections.

The market facility will also be equipped with modern facilities, such as a water sprinkler system, CCTV monitoring system, double drainage canal, steel elevated water tank with deep well water pump, and standby generator set, among others.

Alicia Mayor Joel Amos Alejandro believes that the new public market will hasten commercial and economic growth in the area while catering to the various needs of the community.

“Alicia is running twice as fast in good governance, business, and property development to be the next wonderland in the North,” Alejandro said.

With its vast agricultural land and irrigated fields, Alicia is one of the largest rice-producing towns in the region, with palay production dominating its local economy.