KALIBO, Aklan – The Sanguniang Panlalawigan and vice governor of Aklan defended a P1.53-billion loan from the Development Bank of the Philippines (DBP).
Vice Governor Reynaldo Quimpo said the provincial board has officially approved its endorsement authorizing the provincial governor to avail of the available loan facility.
Prior to the approval, several critics – some of whom lawyers – questioned the integrity of the entailment of loans as the 2019 national and local election is nearing.
Quimpo assured there is no politics behind this move as the money will be used for both the health and agriculture programs of the Aklan Provincial Government.
Based on available documents, the bulk of the loan worth P63 million will be used as back-to-back loan for bridge financing, P35 million for the establishment of a oxygen generating plant, and P25 million for the purchase of a medical waste decomposer.
Other potential expenses on the lists include the purchase of several construction equipment./PN
